Controller client does not launch - blank / white screen (and error EventType clr20r3, P1 ieexec.exe ...P9 exception) on 64-bit operating system

Symptom

There is no on-screen error message. However, the following entry is logged inside the 'application log' inside the Event Viewer on the client device (for example Citrix server):

Event Type: Error
Event Source: .NET Runtime 2.0 Error Reporting
Event Category: None
Event ID: 5000
Date: 24/08/2009
Time: 10:38:49
User: N/A
Computer: CITRIXSERVER
Description:
EventType clr20r3, P1 ieexec.exe, P2 2.0.50727.42, P3 4333abb4, P4 mscorlib, P5 2.0.0.0, P6 4333c8f6, P7 3993, P8 37, P9 exception, P10 NIL.

For more information, see Help and Support Center at http://go.microsoft.com/fwlink/events.asp.
Data:
0000: 63 00 6c 00 72 00 32 00 c.l.r.2.
0008: 30 00 72 00 33 00 2c 00 0.r.3.,.
0010: 20 00 69 00 65 00 65 00 .i.e.e.
0018: 78 00 65 00 63 00 2e 00 x.e.c...
0020: 65 00 78 00 65 00 2c 00 e.x.e.,.
0028: 20 00 32 00 2e 00 30 00 .2...0.
0030: 2e 00 35 00 30 00 37 00 ..5.0.7.
0038: 32 00 37 00 2e 00 34 00 2.7...4.
0040: 32 00 2c 00 20 00 34 00 2.,. .4.
0048: 33 00 33 00 33 00 61 00 3.3.3.a.
0050: 62 00 62 00 34 00 2c 00 b.b.4.,.
0058: 20 00 6d 00 73 00 63 00 .m.s.c.
0060: 6f 00 72 00 6c 00 69 00 o.r.l.i.
0068: 62 00 2c 00 20 00 32 00 b.,. .2.
0070: 2e 00 30 00 2e 00 30 00 ..0...0.
0078: 2e 00 30 00 2c 00 20 00 ..0.,. .
0080: 34 00 33 00 33 00 33 00 4.3.3.3.
0088: 63 00 38 00 66 00 36 00 c.8.f.6.
0090: 2c 00 20 00 33 00 39 00 ,. .3.9.
0098: 39 00 33 00 2c 00 20 00 9.3.,. .
00a0: 33 00 37 00 2c 00 20 00 3.7.,. .
00a8: 65 00 78 00 63 00 65 00 e.x.c.e.
00b0: 70 00 74 00 69 00 6f 00 p.t.i.o.
00b8: 6e 00 20 00 4e 00 49 00 n. .N.I.
00c0: 4c 00 0d 00 0a 00 L.....