Apparently, there is a bug (or a security "feature") in the Outlook 2007+ installer that can cause opening of Outlook messages (URLs in the form outlook:000000004E3A410C59..., which are used by Ultra Recall for Outlook synchronization) to fail with an 'Access denied' error after upgrading to or installing Outlook. To correct this problem, download, extract, and run the .reg file from
http://www.kinook.com/Download/Misc/fixoutlook.zip (double-click in Explorer).
Note: You may need to update the path of outlook.exe in the .reg file if Outlook 2007+ was not installed to the default location (C:\Program Files\Microsoft Office).