Well this is a small hint, that worked for me. I was trying to convert an application with SEO URL using IIS 7 URL REWRITE MODULE 2. I downloaded the the module and successfully installed. Using IIS MANAGER recreated the seo url rules using URL REWRITE OPTION, When i tried to run the application i got the above error message.
HTTP Error 500.52 – URL Rewrite Module Error.
Class not registered
Error Code 0x80004004
After struggling for sometime. I found it is because of dynamic compression enabled in the IIS of the application.
So i selected the compression feature in the IIS 7.5 and disabled the “Enable Dynamic Content Compression Feature”.
And now everything works fine