Windows 7 Error "Explorer. exe No such interface supported"

I got this error after I did a mass update of my windows, reaching from a clean installation to SP1. I messed around a lot on the internet but could not find a good solution, most of the final suggestions were "Back up your data and reinstall". But as I didn't wanted to do that (just thinking about all the softwear I have to reinstall gave me a headache ) I keept going until I found exactly what I needed.

The process of fixing this is really easy if you know what you are doing, but I wasn't, so I will have to give credits to Jae Hyuk Lee on his post.

I will rewrite the solution here to keep it for posterity and make it easy to search.

1. open comand prompt as admin
2. run regsvr32 c:\windows\system32\actxprxy.dll
3. restart if needed