Stephane, check the Security Log, maybe you will find an answer there.
It looks like you have active some security policy settings that do not allow regular users (w/o administrative rights) to read some registry entries.

>I just try the what is described in this KB and i still get the same result, here's what i do :
>
>1 - Install the application as administrator
>2 - Try the app, works fine
>3 - Log off and log back in as any user with no admin rights
>4 - Start the app and i am getting class not registered errors for the activex
>5 - Set the user in Administrator group
>6 - Log off and back-in and it works...
>
>Where is Windows looking at to get objects in the registry ? Where should i start looking to find the answer?, i have been working on this for over a week now, and i am getting pretty desperate...
>
>Thanks