Modeling Engine Error Vision 2010

I am receiving the following error when I try to create a new database model in Visio 2010: :ERROR - Failed to initialize the Modeling Engine."

I have looked everywhere online for resolutions to this issue, but the only things I find refer to Visio 2002 and do not apply to my situation.

Specifics:

Updates ran 12/6/12 (several for Office 2010 and Visio 2010)

Windows 7 Pro

Installed locally

Any help would be greatly appreciated.