For the Error see this:
*support.microsoft.com/kb/935448/
Did you install VTP while logged on in safe mode??If not uninstall it,restart your PC.Go in safe mode and install it again.
Alternatively,If you got time to spare,You can try this
*www.thinkdigit.com/forum/showthread.php?t=49141
No need for the bloated VTP then!!!