You need to extract the TBM700 file to the Aircraft folder within FS2004, not the Addon Scenery file. C
Program Files\Microsoft Games\Flight Simulator 9\Aircraft
Then, in the Aircraft folder you will see a folder named TBM700. In that folder is a file named Effects. Open it and cut and paste the file contained therein (fx_vclight_TBM.fx) to C
Program Files\Microsoft Games\Flight Simulator 9\Effects
Start FS2004, go to Socata on the aircraft selection menu and voila!