FIX: Outlook Error When Clicking on Hyperlinks

The problems affects Outlook 2003-2010
The error comes in the following ways:

This operation has been canceled due to restrictions in effect on this computer. Please contact your system administrator.

or in Hebrew:

פעולה זו בוטלה עקב מגבלות החלות על מחשב זה. נא פנה למנהל המערכת

The Problem:
the problem is related to corrupt registry settings for HTML links.
According to Microsoft you need to use this article to fix the issue:
http://support.microsoft.com/kb/310049

The Solution:

I've found it much easier to follow these steps:

1. Download and run this registry fix for HTML links:
    http://www.dougknox.com/xp/fileassoc/html_association_fix.zip
    Note that you need to extract the Reg file from the zip, double-click on it and approve the request
    to update the Registry.
 *   This method works fine on Windows XP/Vista/7