1. Download the tgz and unzip.
2. Create and activate a new virtualenv in that directory.
3. easy_install -U distribute (in my case, the version of distribute installed by pip was too old for imapclient)
3. pip install logbook gdata imapclient
4. Replace bin/gmvault with the following
sys.path.insert(0, os.path.abspath(os.path.join(sys.path, '../lib')))
import gmv.gmv_cmd as runner
You can also use easy_install or pip. It is on Pypi
Create a virtualenv as it is better and do:
pip install gmvault (or easy_install gmvault)
See http://gmvault.org/install.html#py_install for further info