Update 8/29/2017: License Errors for MSCOMCTL.OCX After July/August 2017 Update of Office 365 ProPlus

UPDATE: This issue is resolved. Scroll down to see the Resolution section.

Current Channel subscribers to Office 365 ProPlus (Office 2016 C2R) who received updates in late July or early August 2017 may receive errors in VBA-enabled applications (i.e., Access, Excel, Word) or in third-party programs (VB6 programs) who have existing compiled projects using controls from the Microsoft Windows Common Controls Library (MSCOMCTL.OCX). The error occurs during attempts to instantiate a licensed control with a runtime key. The error message returned by VB/VBA is:

Run-time error ‘429’:
You do not have an appropriate license to use this functionality

This error may cause the program to fail to load, or may result in reduced functionality, depending on the code project design. The version of MSCOMCTL.OCX with the problem is (signature timestamped June ‎21, ‎2017).  The build only shipped to O365 subscribers; Office 2016 MSI products are not impacted.

The refactor of code introduced a problem for certain runtime license keys used in the instantiation of a runtime control instance from VB/VBA projects. Not all projects see the error because it depends on the runtime key originally acquired and saved when the code was compiled.

A code fix was made for MSCOMCTL.OCX, and has been released (August 29, 2017) for Office 365 ProPlus 2016 Current Channel subscribers in update 16.0.8326.2096 of the June fork (1706).  Clients will be receiving the update over the next few weeks following their normal update schedule.  To install the update right away, you can issue the following commands in an elevated command prompt window:

cd %programfiles%\Common Files\Microsoft Shared\ClickToRun
officec2rclient.exe /update user updatetoversion=16.0.8326.2096

After the update, the version of MSCOMCTL.OCX installed will be version (digitally signed on August 4, 2017).