Actually i have the same problem ( and, after programming for more than 10 years with different C++ compilers, i am anything but a noob ).
I have installed code::blocks as administrator on my computer running windows 7.0 pro.
i have installed TWO of the supposedly supported compilers ( tiny C and miniGW as gnu-gcc for windows ).
I have changed the compiler in the settings/compiler global settings and made sure that the paths in the "toolchain executables" point to correct files.
No matter what i do, the error message pops up in the lower right corner and says "cant find compiler executable in the configured search path for GNU GCC compiler".
The exe files are there and can be run in command line. And, more importantly, that message looks like it is searching for GNU GCC even if i have configured to use Tiny C.