So I have just had the exact same issue. I see that several other users have had this issue and are extremely frustrated. Furthermore, no one seems to have been able to solve this problem. I searched many forums and no proper solution was given. Hopefully the answer is as simple to everyone else as it was to me. See below:
I am running windows XP and just did a clean install. After the install, this error message presented itself. I was running service pack 2 at the time, and thought that I would try installing service pack 3 and see if it made a difference.
I can happily report that after installing windows service pack 3, my HON opened immediately with no error warnings displayed.
Hopefully this works for the many other frustrated users too. Good luck