When Microsoft  Word is enabled to be the editor for outlook, the following error occurs:

Message: Error HRESULT E_FAIL has been returned from a call to a COM component.

Source: office

StackTrace:    at Microsoft.Office.Core.CommandBarsClass.Add(Object Name, Object Position, Object MenuBar, Object Temporary)
   at TeamlookPro.TLInspectorWrapper.c()

MethodName: Add

If I click cancel on the error then the email comes up but the teamlook toolbar is not available to be used.

Brandon,

You have discovered a very interesting issue! We have been working on this issue since it was originally discovered but unfortunately do not have a solution yet.

The underlying problem is that there are really two processes when you view an RTF email with the Word editor inside Outlook. When you do this, Word is launched as a separate process and interprocess communication is happening between Outlook and Word. Unfortunately this breaks addins to Outlook that attempt to create command bars through Outlook when reading emails only.

We have been working diligently with the Microsoft Office team and Outlook community experts to find out a work around (or solution) to this problem. You can read up on the full details and forum conversations at these links below...
    http://msdn.microsoft.com/newsgroups/default.aspx?query=Adding+RichText+Inspector
    http://forums.microsoft.com/MSDN/ShowPost.aspx?PostID=669347&SiteID=1

In the meantime, you can work around this by not having Word as your default RTF e-mail editor. To change this setting go to Tools->Options->Mail Format. In this tab there is a section 'Message Format'.  Uncheck the option "Use Microsoft Office Word 2003 to read Rich Text e-mail messages".

I apologize for the inconvenience and we hope to have this fixed soon!

Cheers,
~Joe