This is usually caused by trying to change the shortcut overlay arrow icon using the improper XP method of deleting the IsShortcut string value in the registry instead of using the proper Windows 7 method.
EXAMPLE: Error message
NOTE: When you right click on the Computer button in the Start Menu and click on Manage, you get this error:
"This file does not have a program associated with it for performing this action. Please install a program or, if one is already installed, create an association in the Default Programs control panel."