Msvbvm stands for Microsoft Visual Basic Virtual Machine and is required for most (if not for all) programs.
Every Windows based computer should have it installed.
However, sometimes happens that this file is missing (erased, mistake while installing system..)
If your game report that error while loading, download this .zip file and unzip it in windows/system directory. If necessary, reboot your computer.

Or you can just download and install patch from Worms 2 site