I suggest first you get a better grip on how exploits work, weather they work or not depends on a lot of stuff, also I would recommend to start with easier exploits.
Also if you look there it actually tells you to compile it, and then rename it with to "pptimpconv.dll"
I didn't study these dll. injection exploits up close, but my guess would be that the .dll contains the exploit and when you run that other file it imports the .dll and runs it (in this case the exploit result is calc.exe).


