We mananged to resolve this exact issue on a machine recently that was running MS Office Home and Business 2010. However a copy of MS Office 2000 was also installed (for legacy reasons re Access 2000) and it was this causing the issue. We used Programs & Features to 'Change' the Office 2000 installation to 'Add/Remove' features and de-selected Outlook in here. This prompted a reboot and the issue was subsequently fixed.
Please note this did not remove the Outlook 2010 that was installed (and in use), but be careful to have a backup of your Outlook as your mileage may vary.