We're sorry to hear you are experiencing this issue. One suggestion I have is to try running the ASP.NET IIS Registration Tool by typing the following at a command prompt:
Please note that your specific .NET framework version number may be slightly different so you may need to alter the path (and most certainly will need to on the 32 bit OS machine).
If this does not resolve the issue for you, would it be possible for to send us your windows event logs from the web server captured just after restarting the TeamPulse app pool and attempting to access the site?
In addition, would it be possible to zip and send us all of the log files found in the TeamPulse install directory Logs folder?
the Telerik team