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This problem occurs if one or more of the following conditions are true:
The file association of the .exe file has been changed to another default program.
The registry subkey setting for the file association is corrupted
Solution: Set permissions to their defaults in the registry
Disclaimer: This procedure involves editing the Windows registry. Adobe doesn't provide support for editing the registry, which contains critical system and application information. Make sure to back up the registry before editing it. For more information about the registry, see the Windows documentation or contact Microsoft. (Refer to http://support.microsoft.com/kb/322756/ for more information about backing up and restoring the registry in Windows)
1. Launch Notepad by clicking on Start > All Programs > Accessories > Notepad
2. Enter the following into Notepad:
Windows Registry Editor Version 6.00
[HKEY_CURRENT_USER\Software\Microsoft\Windows\CurrentVersion\Explorer\FileExts\.exe\OpenWi thProgids] "exefile"=hex(0):
3. Click on the File Menu and select Save As
4. From the Save as Type drop down select All Files
5. Change the File Name to Exe.reg
6. Save the file to the Desktop and then close Notepad.
7. Double-click the Exe.reg file. Note: If you are prompted for an administrator password or confirmation, enter the password or provide proper confirmation.
8. Click Yes, and then click OK in response to the registry prompts.
9. Restart your Computer
10. You should be sure to delete the Exe.reg file after resolving this issue.
Most of the information in this doc was from http://support.microsoft.com/kb/950505