I have the same problem as jay and tried reinstalling MVT to no resolve.
I assume that you have a Valid McAfee Product installed on your PC. Navigate to Add/Remove Programs in Control Panel and Uninstall McAfee Virtual Technician.
Restart the Computer and Re-download MVT from mvt.mcafee.com and run the Installer following On Screen prompts.
Post back the status along with MVT Session ID to proceed further..!
This seemed to of fixed it i guess thanks.
MVT Session ID : 51137045