The server {CLSID guid of component} did not register with DCOM within the required timeout.

microsoft.com technet support Explanation:

The Component Object Model (COM) infrastructure tried to start the named server; however, the server did not reply within the required timeout period. There might be a deadlock, or the program might not have responded to the server initialization code within the timeout period of two minutes.

GUID: 1B1F472E-3221-4826-97DB-2C2324D389AE and BF6C1E47-86EC-4194-9CE5-13C15DCB2001 - these GUIDs have been determined to be associated with a Microsoft SkyDrive maintenance tasks configured to run at 3:00 am in Microsoft Task Scheduler on a Windows 8.1 Pro workstation. The task says: "Performs OneDrive file sync when the computer is idle." and it shows a failure with Error code 0x80080005. Most probably this issue occurs when there is no SkyDrive enabled account configured on the computer.

User Action:

If the problem continues to occur, contact the program vendor. To determine the program vendor Using Regedit, navigate to the following registry value HKEY_CLASSES_ROOT\CLSID\{clsid value}\LocalServer32 The clsid value is the GUID information displayed in the message. In the right pane, double-click Default. The Edit String dialog box is displayed. Leave this dialog box open. Click Start, and then click My Computer. Using the information displayed in the Value data box of the Edit String dialog box, navigate to the program. Right-click the program name, and then click Properties. The Properties dialog box for the program is displayed. To determine who the vendor is for this program, refer to the Version tab.

Additional options:

If you do not need DCOM you can disable it in the following way:
1. Set the EnableDCOM Value Name, a string (REG_SZ) data type, at HKEY_LOCAL_MACHINE\Software\Microsoft\OLE to N.
2.Shutdown and restart your computer.
3.For Windows XP (or WIN 8) & Windows Server 2003, complete the following additional steps:
  A. Run Dcomcnfg.exe.
  B. Expand Component Services.
  C. Right-click Computer and press Properties. For a remote computer, right-click Computer, press New, press Computer, type the ComputerName, right-click the ComputerName and press Properties.
  D. Select the Default Properties tab.
  E. Clear the Enable Distributed COM on this Computer box.
  F. press Apply to disable DCOM.
  G. Press OK and exit Dcomcnfg.exe.
  H. Shutdown and restart your computer.