Does Visual Studio installed on a single machine allow multiple users
to use it?

Investigating a problem I found earlier, I have now discovered that
only when I log in as a particular user can I create new projects.
Until now I have always been using VS under the account that I use to
install VS.  But if I log in (I am using XP Pro SP2) as another user,
even with Administrator privileges, I get the message "Automation
server can't create object" when I try to create a Windows form project
in C# or VB.  When I try to create a web project I get more error
messages referring to incompatibility between IIS on client and server,
followed by the "Automation server can't create object" error.  But
using my original account, I can create web projects OK.

This is a problem because I want to stop using the account I have been
using until now and shift over to another one.  All my other
applications (Office etc.) work OK, just VS is complaining.

Do I need to set something to register my new user account with Visual
Studio?