Running the new SecureStorageBackup.exe has some nuances to be aware of. Recently a customer was having some problems completing the GUI successfully. We ended up having to use the Browse button to choose our location before it would let us actually write the key file. When we typed in the path directly it would tell us access denied and finish (without writing the key file or writing a 0 byte file). After fixing that problem and re-running the tool we ran into a different error, this time it was the

Could not load file or assembly 'Microsoft.Mom.Common, Version=6.0.4900.0, Culture=neutral, PublicKeyToken=31bf3856ad364e35' or one of its dependencies. The system cannot find the file specified

The cause of this problem was we were not running the tool from the Program Files folder where we installed SCOM07, we were running it from the install media. The resolution is to run it from within the program files folder where you installed SCOM07. It has to be run from the same folder that contains the Microsoft.MOM.Common.dll.

Once we ran it from E:\Program Files\SCOM07\ the key was created successfully.