Yeah it works. You don’t need to download the 70 MB file from online. You can install .Net framework on Windows 8 & 8.1 using this tool. Its quite simple that Microsoft already added the .Net patch file on the installation image. (ISO)
::: Guide :::
step 1 : Download the software from here
step 2 : Insert your windows installation cd or mount the iso image on virtual drive
step 3 : Unzip the downloaded file and run the exe file as administrator
step 3 : Change the drive letter to the desired path where installation image is mounted
step 4 : Click on Start Installation and wait till Installation success dialogue box appears.
step 5 : Restart windows
Password for unzip : technologgz