The most common cause of this problem is a corrupt installation of .Net Framework on the PC, possibly due to an update recently deployed.
To repair .Net Framework 2.0 on XP:
Open Control Panel
Select Add or Remove Programs
Locate Microsoft .Net Framework 2.0
Select the entry and when the installer launches, select Repair.
Reboot when it completes.
Alternatively, see this KB article:
http://support.microsoft.com/kb/306160
To remove a corrupt .Net Framework install, use this tool:
http://astebner.sts.winisp.net/Tools/dotnetfx_cleanup_tool.zip
The download of .Net Framework 2.0 can be found here:
http://www.microsoft.com/downloads/details.aspx?familyid=0856eacb-4362-4b0d-8edd-aab15c5e04f5&displaylang=en
To repair .Net Framework 2.0 and 3.0 on Vista, see this blog entry:
http://blogs.msdn.com/astebner/archive/2007/03/26/how-to-repair-the-net-framework-2-0-and-3-0-on-windows-vista.aspx
If the above does not resolve the problem with OneCare, please contact support:
How to reach support (FAQ) - http://forums.microsoft.com/WindowsOneCare/ShowPost.aspx?PostID=2421771&SiteID=2
-steve