This note is for those who find this string.
1. The problem came from my upgrade from CS4 to CS5 and allowing the installer to import my extensions setting. Although the Adobe installer asks - the answer should always be - No way!. As a result, the configuration folder had uglies in it.
2. Jason from WebAssit Tech support set up an online screen share session with me and was both a pleasure to work with and extremely knowledgeable about the nuances that can cause problems.
Its tough to support a product that intimately integrates into a major developer (like Adobe's) application. They don't always cop to bugs and problems with support applications like Extension Manager and it is guys like Jason that can let you know things you will never solve on your own. Who would know that in order to make it work you need to hop three time on your left foot, spin twice to the right and bow toward the sun on Mondays and the moon the rest of the week.
My sincere thanks for good tech support from these guys!