I was getting errors like this:
Error #429 - Microsoft VBScript runtime error
ActiveX component can't create object: 'SongsDB.SDBApplication'
But I think I solved it, or at least found a workaround.
Parallels Desktop 7.15094.749908
Windows XP 64bit SP2
Portable MediaMonkey 126.96.36.1996 on external USB drive, shared via \\psf on m:/mediamonkey
I got rid of those errors and scripts started to working when I installed regular version to m:/mediamonkey and than reinstalled portable over it.
Before that I reinstalled .NET (all versions), even reinstalled SP2, used CCleaner, ... and many sleepless nights.
hope that helps for 'future generations'