API Initialization Error Code 40

Using PccAPI.ocx with Excel 2007 and Entire Connection, the Initialize method consistently returns error code 40. Per Readme.txt, this is due to a COM security setting. I reset the AuthenticationLevel to ‘None’ using DCOMCNFG as suggested, but this has not resolved the error. Also, I am logged in with admin privileges.

Initialize worked with Excel 2003 and EC

Any ideas? Thanks!