You can follow the below steps:
Remove the McAfee product from the Add/remove list.
Turn on the Windows Firewall
Run the McAfee product removal tool.
Then restart the computer and reinstall McAfee from logging into to your McAfee Account & need not worry about your windows Firewall, since McAfee has its own firewall on it.
I've found in practice that Windows turns the firewall on automatically when McAfee is uninstalled but it certainly doesn't harm to check. It certainly turns it off when installing and, in Windows 7, takes control of it completely.
The disk you have may be labelled 2011 but is in fact 2010 relabelled. The actual 2011 versions will go out to all current subscribers, you inlcuded of course eventually, but thus far have only been released to the Australian and Indian servers.
That relabelling strategy has come under fire from us Moderators but apparently it's a marketing strategy employed by not just McAfee so we couldn't achieve anything I'm afraid.