It actually needs to be a REG_SZ registry value, not a subkey. And that forum thread was a bit out of date -- with VBP v6, the registry value is
HKEY_LOCAL_MACHINE\SOFTWARE\Kinook Software\Visual Build Professional 6\ConfigFilesPath
(which works on Windows 2003 in our tests) rather than
HKEY_LOCAL_MACHINE\SOFTWARE\Kinook Software\Visual Build Professional\ConfigFilesPath
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