I have had the same issue since I bought PS-CS4 and Lightroom2.0 back in OCTOBER/NOVEMBER 2009.
Directly from Windows Event Log:
EventID 63: Activation context generation failed for "C:\Program Files (x86)\Common Files\Adobe AIR\Versions\1.0\Adobe AIR.dll".Error in manifest or policy file "C:\Program Files (x86)\Common Files\Adobe AIR\Versions\1.0\Adobe AIR.dll" on line 3. The value "MAJOR_VERSION.MINOR_VERSION.BUILD_NUMBER_MAJOR.BUILD_NUMBER_MINOR" of attribute "version" in element "assemblyIdentity" is invalid.
OS: Windows 7 64-bit
Considering this ERROR is CONSTANTLY being JACKED into the Event Log, I had hoped that others would be asking Adobe for a solution. I guess there are just two of us experiencing this problem - I seriously DOUBT that.
Having DEVELOPMENT experience in several programming languages, it appears there is a SIMPLE error in the DLL file. PLEASE FIX THIS ASAP!
As much as we have to pay for this software, I would expect not to have these kind of issues. Adobe PLEASE RESPOND!!!
Just to let you know you are not alone. I have been raising this issue with Adobe since November last year and I still have the issue. Same error through event viewer and I installed Adobe CS4 Master Suite on a clean install of Windows Ultimate x64. I am awaiting on Adobe to get back to me for an answer on how to resolve this.
You are certainly not alone. I have a new Windows 7 64 bit pc and have had it rebuilt after crashes using PSE8. The problems still occur and the only notable error (both Dell and an IT colleague agree) in the event log at the time of crashes is the Adobe Air dll one as mentioned above. The repeated crashing of PSE Organiser and also the pc appears to have now destabilised Windows again. I have paid for a support program and have been helped with many issues over the last few months (since early April) and have spent hours on my own working through Adobe's help steps for PSE freezes etc. Now I see this error seems to make any Adobe product that uses AIR unfit for purpose, so upgrading to Lightroom 3 or CS5 (which I was considering) does NOT now seem the answer. I have lost months of time and business due to the error and am now faced with not being able to carry out my business (photocards) and my photography hobby if I cannot use any Adobe product on my pc - when I upgraded the pc to cope with my photogrpahy work. HOW CAN WE GET THIS RESOLVED???
This may be too simple, but have you tried downloading and installing the latest Adobe AIR runtime from the adobe web site? The latest version was just released this week.
THANK YOU Old Mster! Just out! I had thought I'd got all the latest downloads but hadn't checked this week. I've also just been told that downloads via Windows explorer 32 bit (rather than my 64 bit) also works better as Internet explorer 64 isn't compatable with all programs on download...especially Adobe - Don't know if that's true or not but that's what I've used.
Thanks I do now see a break in the mire I've been in!