Pretty sure, yeah, unless you happen to have a different error with the same symptoms.
Are you sure you deleted the right folder? Do you have more than 1 Warband copy (i.e. Steam+regular)? Did you mess with files outside the cRPG folder?
EDIT: also, your launcher needs to be version 0.7.6 or higher for the reinstall to work. If you have an older version that doesn't ato-update, redownload it from here.
thanks that's good to know.. is it likely that they will patch this within the next day or few? I just don't want to go through with fixing it manually if it's going to be fixed in a soon-to-be-released patch
EDIT: This fix took literally 10 seconds to do and it worked! Thank you so much! All I did was go to Local Disk, Program Files, Steam, Steamapps, Common, Mount and Blade Warband, Modules, and then deleted the cRPG folder. When I started up the cRPG launcher, it reinstalled the mod and it worked perfectly fine.