I've gotten this error consistently, again and again and again over the many years I've used Adobe and it's never gone away. I really, really need it to stop now. I know there's another thread(http://forums.adobe.com/thread/388281) on the topic and it's just more people, like me, facing the same issue, and no solutions offered. I'd really like someone to pay attention to this issue, as it's greatly hindering me from being truly productive using the creative suite, which on all other accounts, truly excels above FCP and Avid (especially the later versions).
Please, fix this. Please.
Longshot here: do you have Soundflower installed by any chance?