When I tried to open Vegas pro this morning it wouldn't open and suggested reinstallation. So I did that, but during the instillation process I got this error code and was told to contact support personnel.
If you use the forum's search facility, you'll find quite a number of posts re this error code. Have a look at them and see if any of the suggestions work for you. Also, use the error code to do a Google/Bing search - again, there are quite a few matches re the error code and MAGIX products including a YouTube ( ).