What if I get "Run-Time Error 429: ActiveX Component Can't Create Object"?

It's not uncommon to call MATLAB from Excel. But I once got an error message: "Run-Time Error 429: ActiveX Component Can't Create Object" when I tried to start MATLAB within Excel 2010.

I followed the following procedure to fix it:

1) In Windows 7, click "Start", type in "cmd", and then "Ctl+Shift+Enter" (i.e., run as an admin).
2) Run "MATLAB /regserver"
3) In Excel, click MATLAB add-in's Preferences and check "Use MATLAB desktop".

Now MATLAB and Excel are linked!