Help with error extermination: Application disallows

Friends I have a repetitive error that I get on every bootup/run of my trusty thinkpad: this is Win7 Home Prem x64.
I paste below the whole error. First, is this a legitimate error or something that is a known red herring in Windows 7? Secondly, how do I track down and fix the offending Application? I have no idea what it may be but if I can just nail it, I'll go dig around in the settings and see if I can find a gun smoking.
thx
z


Log Name: System
Source: Microsoft-Windows-DistributedCOM
Date: 12/16/2012 4:07:09 PM
Event ID: 10016
Task Category: None
Level: Error
Keywords: Classic
User: SYSTEM
Computer: xyz
Description:
The application-specific permission settings do not grant Local Launch permission for the COM Server application with CLSID
{C97FCC79-E628-407D-AE68-A06AD6D8B4D1}
and APPID
{344ED43D-D086-4961-86A6-1106F4ACAD9B}
to the user NT AUTHORITY\SYSTEM SID (S-1-5-18) from address LocalHost (Using LRPC). This security permission can be modified using the Component Services administrative tool.
Event Xml:
<Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">
<System>
<Provider Name="Microsoft-Windows-DistributedCOM" Guid="{1B562E86-B7AA-4131-BADC-B6F3A001407E}" EventSourceName="DCOM" />
<EventID Qualifiers="49152">10016</EventID>
<Version>0</Version>
<Level>2</Level>
<Task>0</Task>
<Opcode>0</Opcode>
<Keywords>0x80000000000000</Keywords>
<TimeCreated SystemTime="2012-12-16T22:07:09.000000000Z" />
<EventRecordID>121896</EventRecordID>
<Correlation />
<Execution ProcessID="0" ThreadID="0" />
<Channel>System</Channel>
<Computer>Samwise-PC</Computer>
<Security UserID="S-1-5-18" />
</System>
<EventData>
<Data Name="param1">application-specific</Data>
<Data Name="param2">Local</Data>
<Data Name="param3">Launch</Data>
<Data Name="param4">{C97FCC79-E628-407D-AE68-A06AD6D8B4D1}</Data>
<Data Name="param5">{344ED43D-D086-4961-86A6-1106F4ACAD9B}</Data>
<Data Name="param6">NT AUTHORITY</Data>
<Data Name="param7">SYSTEM</Data>
<Data Name="param8">S-1-5-18</Data>
<Data Name="param9">LocalHost (Using LRPC)</Data>
</EventData>
</Event>