I've got the combination of solutions working from what i've read on the forums and this is my solution which worked atleast for Adobe Premiere Pro CS 5.5 Family:
Solution Adobe Premiere Pro CS 5.5 Family:
Browse to \Installation\Adobe CS5.5\payloads
1: Start with backing up your files which gave an error in the log: In my case, it first gave an error on the "Microsoft_VC80_CRT_X86" later when I fixed this .MSI package it also gave an error on the "Microsoft_VC90_CRT_X86" file. So I made a backup of the 2 folders which are indicated "RED" in the picture below.
2: Copy from the green directory, the files which are in the image below
3. Paste the 2 files into the X86 folder as in the image below, delete the 2 files which are indicated red by the image below, and then adjust the new files to the same name as the files which were deleted:
4: You will probably have to do this twice for the different errors.
Extra step 5: I'm mentioning this step because im not sure if this helped, but I also uninstalled the MSI files to be sure there was nothing left behind of the old installer.
Hope this helps, I will try the same for After Effects and let you know if this also works.
Glad you found at least a partial solution. Please don't post entire crash logs -- they make the topic unreadable for other users.