I had to blog this since we encountered this issue twice already. I found the solution from BetaDesigns but we encountered a slightly different case the 2nd time that requires a different approach.
In the first case, you just need to delete a line from the mm.cfg file. If you’re using Windows XP, you’ll find the file in the C:\Documents and Settings\{your user name}\ folder. Find the line that contains the string ProfilerAgent.swf and delete it.
Different Approach
In the second case, you might not find that line from the mm.cfg file. So what we did was delete or rename the ProfilerAgent.swf file from the .metadata\.plugins\com.adobe.flash.profiler folder in your workspace.
Hope this helps.
