Probably not as this is part of the profile. You can create a new user, which will create a new profile, then transfer the data (my documents, desktop, favorites) to the new profile and delete the old one.
Actually, I just thought of something....
There might me an ntuser.dat.bak or something in the root of that profile. If there is, you might be able to rename that back to ntuser.dat and fix the issue. Although it may create other issues.
Also, this may or may not work for Windows Vista/7 but you can try it Corrupt Hive
Some explanations that I have found regarding the ntuser.dat file.....
1. During the logon process, your workstation loads the HKU hive and then
applies the changes in the NTUSER.dat to that to make the HKCU hive that
the profile uses as its working copy. Changes that you make to the HKCU
will be saved in the NTUSER.dat and will affect just that user. Changes
made to HKU will affect all users logging into that machine.