The new Time Zone patch from Microsoft breaks an application of mine called SalesLogix. After encountering this problem and finding no answers from SalesLogix, I started doing research myself. Even after uninstalling the update, SalesLogix still failed to run. I later found this is from registry entries which the uninstaller left behind. Below is my fix for this problem as there are currently no fixes from SalesLogix
UPDATE: SalesLogix has released a fix for this. As far as I know right now, it is only in Service Pack 6. I dont know of any other way to get this fix without upgrading to the latest service pack.
UPDATE: A new Windows update has the same effect. KB931836 will have the same effect as KB928388. Luckily the fix below will fix it also.