Did anybody got the solution for this, I am also facing the same problem, briefed below.
My machine (XP Professional) got installed a 90 day trail version if Visual Studio 2008. My machine was updated with all the windows Hot fixes/Patches. Everything was running fine in my machine, which had .Net framework 2.0 SP2, 3.0 SP2, 3.5 SP1.
All of sudden one day one of ASP.NET web application gave me a message "Server unavailable", As per the information I got from the search I had in the internet, Updated the version v2.0.50727 for ASP.NET tab in the properties window for "Default website" in IIS Administration.
Later when I try to launch my ASP.NET web application got a message saying "Failed to access IIS metabase". When I try to run "aspnet_regiis -i" got an error saying "The application failed to initialize properly (0xc0000005)", After breaking my head and searched in the internet about this problem came to know about .Net framework cleanup utility.
Downloaded the .net framework cleanup utility and cleaned all the .net framework instances available in my machine. Restarted my machine and installed .Net framework 2.0, 3.0, 3.5 (No service packs for either). I was able to run "aspnet_regiis -i" and able work with my ASP.NET web application successfully.
Next day I try to run windows update, which had installed latest frameworks (2.0 SP2, 3.0 SP2, 3.5 SP1). The problem repeated...
When I try to launch my web application, it gave a message "Server unavailable", So updated the version v2.0.50727 for ASP.NET tab in the properties window for "Default website" in IIS Administration. Later when I try to launch my ASP.NET web application got a message saying "Failed to access IIS metabase". When I try to run "aspnet_regiis -i" got an error saying "The application failed to initialize properly (0xc0000005)"
Please help me..................
Thanks,
Ranga