Microsoft has created a Fix-It for this!
What this Fix it does is to remove incorrect or corrupt registry entries that interfere with VB support in windows and then re-registers the DLL ensuring that the correct registry setting are there. After running the Fix it solution you may be able to immediately try the operation that previously gave you the error, but to be sure, a reboot is suggested. This will address similar issues with other programs as well and not just the applications that are specifically mentioned in this thread.
The link to the Fix it is: http://go.microsoft.com/?linkid=9804433
Thanks!