Without seeing the error about Web.config its difficult to diagnose. My best guess would possibly be you don't have the correct .NET framework configured on the site (ie .NET 4 should be used) if you have it configured for .NET 3.5 it will cause errors about web.config, see the 9th and 10th items on our FAQ.
Also if you have it installed in a virtual directory like localhost/mojoportal you can get a web.config error if there is another Web.config file in the folder above it ie the folder corresponding to localhost. Our Developer FAQ has some info about that.
The error you posted "Время ожидания запроса истекло" translates as Query Timed Out. I'm not sure what is causing that.
Hope that helps,