Visual C++ "Error Invoking ATL Object Wizard Component" [Digg.com This!]

In Visual Studio 6 in an ATL project when select Insert->New ATL Object from the menu I received an error:

"Error Invoking ATL Object Wizard Component"

I traced this to Visual Studio having moved locations (I don't even remember moving it, but our company puts tools in strange directories).

To find out what the location the VS registry keys point to try the menu option: Tools->Visual Component Manager. If VS has moved directory locations this will fail and tell you where it should be found.