Microsoft Feed Management API c# problems

I am trying to use the Microsoft Feed Management API in IE7 Beta 2 and I am trying to hook up the a feed watcher event to see when the counts of items in a feed change.

However, I can't get past the following line:
FeedFolderWatcher fwc = new FeedFolderWatcherClass();

I get the exception:
Retrieving the COM class factory for component with CLSID {281001ED-7765-4CB0-84AF-E9B387AF01FF} failed due to the following error: 80040154

Which from what I can tell the CLSID is not installed on my system.

What can I do? Is this an install problem or a problem with the MFM API?
Does anybody have the full screen saver c# example so that I can see what is going on?

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