I have the same error when trying to browse a termbase in both, Trados Studio 2011 SP1 and Trados Multiterm 2011 SP1. My operating system is Windows Vista.
Here is a sample of the error log file:
Retrieving the class factory COM for the CLISD component failed due to the following error 8007007e
System.IO.FileNotFoundException, mscorlib, Version=188.8.131.52, Culture=neutral, PublicKeyToken=b77a5c561934e089
I've tried to find a solution but it's being time consuming. I can't spend more time with this and I feel absolutely frustrated and disappointed with this tool. It's the first time I run Studio 2011 in my computer and I'm already having problems. I mean... It's the first document I'm trying to translate and there's an error that doesn't allow me to load termbases. Any ideas?