Autodesk Inventor Professional 2014: VBA failed to initialize. Please restart Inventor.

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If you receive such an error message from Autodesk Inventor Professional 2014, you might need to reinstall the VBA 7 modules. See http://usa.autodesk.com/adsk/servlet/ps/dl/item/print?siteID=123112&id=21910314&linkID=9242018 for more details.

The short story is to shut down Inventor and reinstall the VBA 7 modules using either 3rdParty\x64\VBA\Vba7.MSI or 3rdParty\x86\VBA\Vba7.MSI from the installation media or from C:\Autodesk.