Side by Side errors starting ST2

SE ST-2 on Windows 7 64bit.
It used to work but something happened..
I tried repair, then uninstall-reboot-install. No help.
Using sxstrace.exe in DOS i get:
ERROR: Cannot resolve reference Microsoft.VC90.MFC,processorArchitecture="amd64",publicKeyToken="1fc8b3b9a1e18e3b",type="win32",version="9.0.21022.8".

From a lot of googling that apparently has to do with Visual studio debug routines and suggested installing Visual Studio 2008 trial which unfortunately is now removed from MS only 2010 & 2012 are now available. I found SP1 and ran the repair option but still not working.

I also did a full repair install of Windows-7 but no luck.
Below is the last section of the sxstrace log
HELP!
Thanks in advance,
Bertho
-------------------------------------------------------------------
INFO: Resolving reference Microsoft.VC90.CRT.mui,language="*",processorArchitecture="amd64",publicKeyToken="1fc8b3b9a1e18e3b",type="win32",version="9.0.30729.6161".
INFO: Resolving reference for ProcessorArchitecture amd64.
INFO: Resolving reference for culture en-US.
INFO: Applying Binding Policy.
INFO: No publisher policy found.
INFO: No binding policy redirect found.
INFO: Begin assembly probing.
INFO: Did not find the assembly in WinSxS.
INFO: Attempt to probe manifest at C:\Windows\assembly\GAC_64\Microsoft.VC90.CRT.mui\9.0.30729.6161_en-US_1fc8b3b9a1e18e3b\Microsoft.VC90.CRT.mui.DLL.
INFO: Did not find manifest for culture en-US.
INFO: End assembly probing.
INFO: Resolving reference for culture en.
INFO: Applying Binding Policy.
INFO: No publisher policy found.
INFO: No binding policy redirect found.
INFO: Begin assembly probing.
INFO: Did not find the assembly in WinSxS.
INFO: Attempt to probe manifest at C:\Windows\assembly\GAC_64\Microsoft.VC90.CRT.mui\9.0.30729.6161_en_1fc8b3b9a1e18e3b\Microsoft.VC90.CRT.mui.DLL.
INFO: Did not find manifest for culture en.
INFO: End assembly probing.
INFO: Resolving reference Microsoft.VC90.MFC,processorArchitecture="amd64",publicKeyToken="1fc8b3b9a1e18e3b",type="win32",version="9.0.21022.8".
INFO: Resolving reference for ProcessorArchitecture amd64.
INFO: Resolving reference for culture Neutral.
INFO: Applying Binding Policy.
INFO: Find publisher policy at C:\Windows\WinSxS\manifests\amd64_policy.9.0.microsoft.vc90.mfc_1fc8b3b9a1e18e3b_9.0.30729.6161_none_a554a30de6a6e582.manifest
INFO: Publisher Policy redirected assembly version.
INFO: Post policy assembly identity is Microsoft.VC90.MFC,processorArchitecture="amd64",publicKeyToken="1fc8b3b9a1e18e3b",type="win32",version="9.0.30729.6161".
INFO: Begin assembly probing.
INFO: Did not find the assembly in WinSxS.
INFO: Attempt to probe manifest at C:\Windows\assembly\GAC_64\Microsoft.VC90.MFC\9.0.30729.6161__1fc8b3b9a1e18e3b\Microsoft.VC90.MFC.DLL.
INFO: Attempt to probe manifest at C:\Program Files\Solid Edge ST2\Program\Microsoft.VC90.MFC.DLL.
INFO: Attempt to probe manifest at C:\Program Files\Solid Edge ST2\Program\Microsoft.VC90.MFC.MANIFEST.
INFO: Attempt to probe manifest at C:\Program Files\Solid Edge ST2\Program\Microsoft.VC90.MFC\Microsoft.VC90.MFC.DLL.
INFO: Attempt to probe manifest at C:\Program Files\Solid Edge ST2\Program\Microsoft.VC90.MFC\Microsoft.VC90.MFC.MANIFEST.
INFO: Did not find manifest for culture Neutral.
INFO: End assembly probing.
ERROR: Cannot resolve reference Microsoft.VC90.MFC,processorArchitecture="amd64",publicKeyToken="1fc8b3b9a1e18e3b",type="win32",version="9.0.21022.8".
ERROR: Activation Context generation failed.
End Activation Context Generation.