MMC could not create some snap-ins on Windows Server 2008 R2

We got the error “MMC could not create the snap-in.  The snap-in might not have been installed correctly.” on a Windows Server 2008 R2.

If you connect to the Event Viewer from another server you will find this error in the Application log:

Microsoft has released this update to fix it:
http://support.microsoft.com/kb/2688730

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