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This issue is hurting me much. This error appeared on startup. Then I have uninstalled it and re-installed after a clean reboot. 

But I am still stuck with the same error! There should be a fix for this, and I am really looking for it.

After effects error: Crash in progress. Last logged message was <4716><DynamicLink> <5> C:\Program Files (x86)\Common Files\Adobe\dynamiclink\CS5\dynamiclinkmanager.exe

So help me any suggestion on possible solution.

Thanks.

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# (Solution Accepted)

For Windows

You rarely can see this Content after weight AE or Pr CS5. Or installing Pr CS 5.I got these condition until now On facing this problem Rightful uninstall AE or Pr including all elements. And then restart your Windows. And Right try to establish AE or Pr gradually by tread.
 
For Mac
 
Remove a folder from you Hard disk, (Macintosh HD/users/admin/library/preferences/adobe/after effects...) and then delete Folder ‘10. 0’. Formerly you separate this folder from this section, simply reload the information CS5 employed again.
 
Note: AFX instrument make a new folder in the one activity as the old folder.

# (Solution Accepted)

You did not explain if you have already been using Adobe After Effects CS5 and the error you encountered is unexpected or it is a fresh installation and this is the first time you will be using it. Since uninstalling and reinstalling the software is a total failure, let us determine if your computer is compatible to run the application. To be able to run Adobe After Effects CS5 your computer must have at least a Pentium 4 processor or an AMD Athlon 64. And it’s good if you have an Intel Core 2 Duo or an AMD Phenom II processor. Your computer must be running either Windows Vista (Home Premium, Business, Ultimate, Enterprise) Service Pack 1, or Windows 7.

The required minimum RAM is 2 GB or more. The application needs 3 GB free hard disk space and a video card that supports OpenGL 2.0. You also need to install QuickTime 7.6.2 or later version. Check your computer’s hardware if they meet the above requirements. If not, you may need to upgrade some components in your computer or you may just install an older version that is compatible with your system. You can find the information about the different versions of Adobe After Effects and their system specifications at http://kb2.adobe.com/cps/836/cpsid_83637.html.

Regards
Sharath Reddy