I have a brand new Dell 580 with Win 7 & Office H&B 2010. After transferring my .pst file from an old machine, I shut down for a phsical move of the new dell. Ms installed 29 updates. After restarting, I get the message above, while the balance of MSOffice works just fine.
I have since 1) tried the resetnavpane and 2) uninstalled & reinstalled MSOffice.