We have double checked it, in a couple of workstations and testing the code with the debugger.
But everything seems correct. As far as this key exists, Update Manager is not launched. I don't know what may be the problem.
Please, can you confirm you're using FP 7.1.2 ?
If possible, please send us screenshots both of the message error, and the registry key. Just to be sure it's correct.
Thanks,