When you updated did you uninstall the old version and run the cleanup tool? If not then you've just carried whatever glitch is present into the updated version.
These things seem to happen to some setups and not others. They could be caused by just about anything.
So if you did not do a cleanup do the following after having temporarily enabled Windows Firewall as protection.
1. Uninstall all McAfee programs through "Add or Remove Programs" in Windows "Control Panel".
2. Use the MCPR tool, see this article: How to remove supported McAfee consumer products using the McAfee Consumer Products Removal tool (MC...
This will remove all McAfee remnants from your computer. (you must have Windows Vista, XP or 2000 SP4 to use this tool)
3. Launch Windows Explorer and delete all McAfee files in "Program Files" but especially in "C:\Document and Settings\<user>\Application Data" and "C:\Document and Settings\All Users\Application Data". You have to set Windows Explorer to show all hidden files and folders (Tools > Folder Options > View tab). Just delete the McAfee folders even if they are empty in all the "Application Data" folders. Can be more than one!
In Vista: C:\Program Files, C:\ProgramData and C:\Users\yourname\AppData\Roaming
If you can't find these files don't worry. It just means that MCPR has done its job.
4. Reboot and redownload/reinstall your McAfee products directly from your account at the McAfee web site.
If you are McAfee direct customer, go to https://home.mcafee.com/Secure/Protected/Login.aspx
and log in to download your McAfee products.
AOL users should go to http://daol.aol.com/security/
and log in to download your software.