The entry point shown in your screenshot is an entry point in the 2011 version of MC3.dll.
Are you sure you are running the 2013 version of composite.exe ?
I'm not able to reproduce this problem. When I start Composite 2013, composite.exe loads the MC3.dll that ships with Composite 2013 and there is no entry point error.
Personally, if I had this problem, I'd run Process Monitor on composite.exe to see what's going on.
BTW, in the 2013 MC3.dll, the entry point name is
?Initialize@CMLFacade@@SAXPEAVCMLWaypoint@@PEB_W11HI_J2W4MC3_MODE@@1@Z
The 2011 MC3.dll entry point has the name shown in your screenshot:
?Initialize@CMLFacade@@SAXPEAVCMLWaypoint@@PEB_W11HI_J2_N1@Z