I've spent the last few days attempting to troubleshoot my profiling problems and here's what I've discovered:
First, your suggestion to run the profiler as administrator had no effect. So, in an attempt to isolate the problem, I kept removing source from my silverlight project until it was just down to the app class and a single form. Still won't run. I removed all service references, and even created a static HTML file to launch it (normally is launched from ASPX file). Still won't run. I remove the SSL requirement and launch it from a non-SSL URL. Still won't run. I start ripping out referenced assemblies and finally I can get it to run by removing System.ServiceModel.Extensions. Strange, but true. So, I restore my entire project and remove the assembly reference and it won't run again. Ugh.
SCRIPT5022: Unhandled Error in Silverlight Application
Message: System.IO.FileLoadException: Could not load file or assembly 'System.ServiceModel, Version=126.96.36.199, Culture=neutral, PublicKeyToken=31bf3856ad364e35' or one of its dependencies. Strong name validation failed. (Exception from HRESULT: 0x8013141A)
Arguments: System.ServiceModel, Version=188.8.131.52, Culture=neutral, PublicKeyToken=31bf3856ad364e35
Debugging resource strings are unavailable. Often the key and arguments provide sufficient information to diagnose the problem. See http://go.microsoft.com/fwlink/?linkid= ... eName_Name
---> System.Security.SecurityException: Strong name validation failed. (Exception from HRESULT: 0x8013141A)