This may help other users, though I'm not sure about your specific problem.
I saw the same error yesterday when I knew full well that the day before I had watched shows on my MacPro 5,1 and LED Cinema display. Since nothing had changed at all (no software updates, nothing), I was mystified... even rebooting did not solve the problem.
Eventually I brought up the Displays section in System Preferences and selected "Show mirroring options in the menu bar when available". Looking under that menu bar item I noticed that my MacBook Pro 17 showed up. I had used it to access the MacPro via screen sharing. I have to assume that iTunes on the MacPro was still thinking that screen sharing was in use and I was trying to play video from the MacBook Pro. When I punted the MBP from the mirroring options, everything went back to normal.
Of course, it's odd that the MBP still appeared to be connected even after rebooting the MacPro...