On our new server running Windows 2003 Server R2 x64 and VMWare Server V1.01 we always got the message “Invalid Virtual Machine Error” when we tried to open any virtual machine (created by another system) in the VMWare Console after copying it to the new server.
After googeling the issue this thread gave me the right idea:
If you’re using [VMWare Server Console] in local mode, switch to remote mode with a valid Admin-level login and try again.
I simply closed the Console, restarted it and entered my credentials instead of choosing “local mode”. Voilà, now it works!