ggaliens, did you try to install the Erlang OTP with the option Microsoft DLL's checked (even if it is already present)?
If you have a version greater than this one the install will fail, but you will get the vcredist installer added to your Erlang install dir (i.g. C:\Program Files (x86)\erl5.9.3.1\vcredist_x86.exe) - (version 10.0.30319.01 - it's the minimal requirement, I think)
I believe this should be the one you have to make available to NSIS when building the installer.
If you have a version greater than this one the install will fail, but you will get the vcredist installer added to your Erlang install dir (i.g. C:\Program Files (x86)\erl5.9.3.1\vcredist_x86.exe) - (version 10.0.30319.01 - it's the minimal requirement, I think)
I believe this should be the one you have to make available to NSIS when building the installer.