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According to google, this is a problem that sometimes occurs with windows vista. One solution is to disable the quickstart option. Or if you have a HP computer: disabling "HP Quick Launch Buttons" can fix the problem:
Would this mean that, I can ignore the error and I can still work with the PIC Kit2 application. yes, I will look into the action required too as per link given.
I remember that when I had Vista 64 Ultimate on my com, before reinstall Vita 32 Ultimate, I did not receive such an error.