If, as a search on this error message seems to suggest, this is a Toshiba-specific code which requires a factory reset, then the answer to your initial question about whether "your software" (I assume you refer to EasyRE and not EasyBCD) will fix it, is most probably not.
EasyRE fixes problems with the boot process and has tools which can also scan for viruses and help fix other problems with HDDs, but one thing it most definitely can't do is reinstall Windows for you. That requires a Microsoft installation DVD or the Toshiba OEM equivalent recovery/restore partition. EasyRE does not (and could not legally) contain a full Windows system image which would be necessary in such a case.
However, since you say this occurred after installing a new HDD, I'd suspect that that is at the root of your problem.
It's possible that your PC is no longer trying to boot from the correct HDD.
Check that your BIOS is not trying to boot from the new HDD instead of the proper one containing the Toshiba customized bootmgr/recovery facility.
I have never owned a Toshiba, so I'm not aware of whether it allows you to alter the HDD priority within the BIOS boot sequence (Dell and at least one other OEM do not). It it does, try switching.
If it doesn't, you could physically swap the HDD cabling so that the PC finds the other HDD first.