Pro Tools 10.0.1 on OS X Lion, "unrecognized component" initialization failure
 

Just installed on a new MacBook Pro running OS X Lion 10.7.3. Install runs fine, but when I try to initialize the program, I get the following error:

"Pro Tools has encountered an unrecognized component and must now exit."

Nothing online seems to address this issue specifically. I have no hardware connected other than my iLok but I do not get the "No hardware detected - please connect and try again." error that usually pops up when you do that. The Pro Tools splash page pops up for a second and then I get the error window.

Admin access and repairing permissions change nothing.

I'm out of ideas and beginning to suspect that there is some incompatibility with the mac itself. It has a firewire port, though, so it should be compatible according to Avid's specs.

Re: Pro Tools 10.0.1 on OS X Lion, "unrecognized component" initialization failure
 

I'd try clean uninstall and then try installing again starting with 10.0.0 and then the updater to 10.0.1.