Problem

"The application-specific permission settings do not grant Local Activation permission for the COM Server application with CLSID {61738644-F196-11D0-9953-00C04FD919C1} to the user DOMAIN\ACCOUNT SID (S-1-5-21-2412572953-1870457451-2878546156-1119). 

This security permission can be modified using the Component Services administrative tool."

Solution

You have to go to Start->Administrative Tools->Component Services. From there locate the IIS WARMREG admin Service and switch to the tab "Security".

Click edit in the group "Launch and Activation Permissions".

There you have to add the mentioned service account and give it "Local Activation" permission.

You can repeat the steps for every account reported in "Event Viewer". Usually there are the application pool accounts of your SharePoint farm reported.