AxImp problem when building with TeamCity (6.5.3)

We have a 'dirty agent' running with all dependencies installed for some of our scripts. One build
fails with the following error message:
[Execute build] AXIMP: AxImp error: did not find a registered ActiveX control in <a path to the activeX>

However, I CAN build it manually on the machine the build agent is on (manually as in running the Rake/Albacore
script with a MSBuild task - the same script the build agent uses, and with the same user!).

We are out of ideas, any bright ideas out there?