This is what I get with "mtxrun texexec kk.tex"

 

This is pdfTeX, Version 3.1415926-2.4-1.40.13 (TeX Live 2012/W32TeX) (format=cont-en 2012.5.28)  28 MAY 2012 21:18
entering extended mode
 \write18 enabled.
 (c:/context/tex/texmf-context/web2c/natural.tcx)
**kk.tex
(./kk.tex

ConTeXt  ver: 2012.05.26 16:40 MKII  fmt: 2012.5.28  int: english/english

system          : cont-new.mkii loaded
(c:/context/tex/texmf-context/tex/context/base/cont-new.mkii

FatalError      : Your format does not match the base files!

FormatVersion   : 2012.05.26 16:40 MKII
FilesVersion    : 2011.05.18 18:04

 ) )
Here is how much of TeX's memory you used:
 47 strings out of 255946
 829 string characters out of 1273077
 2595900 words of memory out of 4000000
 41195 multiletter control sequences out of 15000+100000
 7 words of font info for 0 fonts, out of 2000000 for 5000
 397 hyphenation exceptions out of 8191
 20i,0n,15p,81b,471s stack positions out of 10000i,500n,10000p,4000000b,50000s

No pages of output.