Matlabpool initialization error with Builder EX

Hi

Why do I get the following error when I try to open matlabpool using local configuration:

Error using ==> matlabpool at 133 The interactive parallel job finished without any messages. To diagnose this issue further, validate the configuration 'local' in the Configurations Manager.

Note the error only appears when I compile the matlab code using Builder EX and use the COM component through Excel addin. It does not appear when I compile the code using MATLAB Compiler and run the resulting executable. The error does not appear when I run the command from MATLAB command window. I am using MATLAB R2011a on Windows 7 (64 bit)