Looks interesting indeed. Anyway, A localhost is just a local server, so it should be installed flawlessly once your localhost specifications match the software Apache/PHP/MySQL requirements. What problems you've encountered installing it on your localhost?
Actually not that simple, articledashboard files are encrypted, and require zend (or ioncube, not sure) to be installed first. If you manage that, it should be simple.
Install a server on your PC, then unzip the script on the root directory, IMO, this is the best and easy to handle localhost (PC/Windows/Mac/Linux-friendly) server: http://www.apachefriends.org
Aha... But doesn't come with it's own Zend/Ioncube loaders? I guess since they're offering it for free they won't include the loaders with it & will rely installing them on the server by hosts or end users.