Had a quick go at trying to recreate the problem, but havn't managed yet. I have seen this message but not for a while. I suspect it either cant find device model or pin model, it is somthing that means it cant do a simulation, but it is trying to isolate the main fator. I will have a play this weekend as I am doing some simulations.
What I have done with my set up is laod and import the IBIS models for all our active devices and added a link to the Cadstar parts library, so that all parts are mapped to the relevant device models.