A Dtrace taken on the mmc process shows the following :
{VaultCreateInstanceRequest::CreateInstance} Attempt [2] to create COM object failed. CLSID [{F4D3EB5B-C7C5-11D1-90DB-0000F879BE6A} (EnterpriseVault.DirectoryService.1)] Server Name [::1] Elapsed [0.008s] Result [Bad variable type. (0x80020008)]
{VaultCreateInstanceRequest::CreateInstance} Attempt [3] to create COM object failed. CLSID [{F4D3EB5B-C7C5-11D1-90DB-0000F879BE6A} (EnterpriseVault.DirectoryService.1)] Server Name [::1] Elapsed [0.005s] Result [Bad variable type. (0x80020008)]
{VaultCreateInstanceRequest::CreateInstance} Attempt [4] to create COM object failed. CLSID [{F4D3EB5B-C7C5-11D1-90DB-0000F879BE6A} (EnterpriseVault.DirectoryService.1)] Server Name [::1] Elapsed [0.006s] Result [Bad variable type. (0x80020008)]
{VaultCreateInstanceRequest::CreateInstance} Attempt [5] to create COM object failed. CLSID [{F4D3EB5B-C7C5-11D1-90DB-0000F879BE6A} (EnterpriseVault.DirectoryService.1)] Server Name [::1] Elapsed [0.005s] Result [Bad variable type. (0x80020008)]
This can happen due to certain DLLs not being properly registered, or a corrupt EV installation
1) Run FileReregister.bat, and reboot the EV Server.
OR
2) Run a repair of EV binaries, and then reboot the EV Server.