I had the same problem quite a while ago.
Do You use ZoneAlarm or a similair Firewall system?
I think i remember allowing "dynamiclinkmanager" in my firewall to act as a server / allow all access did the trick. Give it a try.
(i had 2 instances of dynamiclinkmanager show up in the zone alarm Application Control.)
The Dynamic Link Server Program needs access from one Program to another (AE / PR / EN / ME) and therefore some Firewalls mistake it as a threat,
since some malware does a similair thing...
-and keep smiling...
Jim - I tried using both the Dynamic Link Import option, as well as right clicking and Importing from there. Still no luck.
Felix - The only firewall I'm running is Windows. I manually added dynamiclinkmanager as well as Premier and After Effects, both with Domain and Home/Work(Private) selected to allow communication. Still no luck.
Grr. I rember having the exact same situation, but not,
How I got rid of it...
You are sure, you run your applications as admin?
- i mean not just being logged in as admin, but in your premiere etc. exe's
Right clicked properties > compatibility > run as admin... ?
You might have done this already, but i'm trying to remember
the steps i took to solve this...