I have the exact same problem with Adobe Premiere Elements 9 and from what I saw on the web, there seem to be a lot of users with this problem but no solutions I found worked.
I probably uninstalled and reinstalled APE9 more than 10 times trying different things each time including running CCleaner everything I uninstall it.
At least if the message could give some indication of where the error was detected it would give us a clue.