This is a bug in .NET 1.1.
On certain views, I check for installed printers before rendering print menu items.
http://www.windojitsu.com/blog/bugstory.html
Basically, if the windows "Print Spooler" service is not running, you will get this error.
Unfortunately, this isn't really fixed in .NET 2.0. You will get a different error ("RPC Server Unavailable") and the waypoints will not load.
Crapshoot will patch the 1.2 version to address this. If the Spooler Service isn't running, the print menu items will not appear.