Issue creating Item Activated Events for a third party form Control in Windows Powershell

Question

I was asked at work to look into converting some of our VB.Net Applications to PowerShell. We use the
QIOS dev Suite for some of the controls to make it more visually appealing. I have been testing to controls out and I can load and create forms with no issue in powershell but I'm stumped on the error I'm
receiving when I add and ItemActivated event. I need to make it so when a user clicks on a given menu Item the form gets which menu item is clicked. 
Below is the code to my test form.
[VOID][reflection.assembly]::Load('System.Windows.Forms, Version=2.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089')
[VOID][reflection.assembly]::LoadFile("C:\Code\Qios.DevSuite.Components.dll")
[System.Windows.Forms.Application]::EnableVisualStyles()
$form1 = New-Object 'System.Windows.Forms.Form'
$Menu = New-Object 'Qios.DevSuite.Components.QCompositeControl'
$item = New-Object 'Qios.DevSuite.Components.QCompositeMenuItem'
$DOSOMETHING={Write-Host "DO SOMETHING"}
# form1
$form1.Controls.Add($Menu)
$form1.ClientSize = '202, 262'
$form1.Name = "form1"
$form1.Text = "Form"
$form1.add_Load($form1_Load)
#MenuItem
$Item.ItemName = "Test Item"
$Item.Title = "Test Item"
# Menu
$Menu.Location = '13, 12'
$Menu.Name = "panel1"
$Menu.Size = '177, 238'
$Menu.Items.Add($Item)
$Menu.Add_ItemActivated($DOSOMETHING)
$form1.ShowDialog()
If someone could take a look and tell me what I'm doing wrong that would be great. If you need the dll file below is a link to my copy.

Answer 1

I was able to get the attached code to work in windows 7 with powershell version 2. I have to see why it dosent like windows 8 and powershell version 4.
Update: I just did powershell -version 2 in windows 8 and I was able to run the code. 
[void][reflection.assembly]::Load('System.Windows.Forms, Version=2.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089')
[void][reflection.assembly]::LoadFile("C:\Users\xAdmin\Desktop\Qios.DevSuite.Components.dll")
$frmMain = New-Object 'System.Windows.Forms.Form'
$ccMenu = New-Object 'Qios.DevSuite.Components.QCompositeControl'
$ccitem = New-Object 'Qios.DevSuite.Components.QCompositeMenuItem'
$Function = {
param ($sender, $e)
[System.Windows.Forms.MessageBox]::Show($e.Item.ItemName)
$frmMain.Controls.Add($ccMenu)
$frmMain.ClientSize = '202, 262'
$frmMain.Name = "form1"
$frmMain.Text = "Form"
$frmMain.add_Load($form1_Load)
$ccMenu.Location = '13, 12'
$ccMenu.Name = "panel1"
$ccMenu.Size = '177, 238'
$ccMenu.Items.Add($ccitem) | Out-Null
$ccMenu.Add_ItemActivated($Function)
$ccitem.ItemName = "Test Item"
$ccitem.Title = "Test Item"
$ccitem.Configuration.StretchHorizontal = $true
$frmMain.ShowDialog()