You will have to re-configure the application and possibly put a serial code back into it, but if this works, delete the old preferences and everything should be fine. This error can also happen if an application suddenly finds something has been using its memory, which can occur from time to time. The best way round this problem can be found under the Extended Questioning section in the Crashes section. They are more common if you are using large amounts of colours on the screen at once, resulting in larger than normal memory requirements. They very rarely mean a duff application, but usually one that has become memory starved.
Some applications are very picky about what memory settings they require.
These settings can be toggled using the Memory control panel. If one or more of the options does not exist, don't worry, it may not be applicable to your computer. The computer is fortunately smart enough to realise that this is not the case and has reset it back again for you. Re-loading will now result in a proper launch. This error is usually a result of an error in the directory of the computer and it is worth rebuilding the desktop if it occurs just in case.