I have been having this same issue under similar circumstances:
SEP 11 MR4 SP1a on workgroup w/1 server (32 bit OS) and 15 clients and no internet connectivity.
After the initial installation of the manager and the clients, I was able to upload a .jdb file, which processed normally and all the clients got that first upload. Subsequently, it was necessary to shutdown and physically move the server to another location. Since bringing it back up, the .jdb file is not processing and just sits in the ...incoming folder. The clients are all still connected and reporting their status to the manager. Restarting the SEPM service makes no difference. Permissions on the directory are Everyone, Full Control. When I check the log, the following is repeated about every 10 seconds:
Apr 08 09, 04:22:11 AM INFO(High) SesmLu: ***************************************************************************************************************
Apr 08 09, 04:22:11 AM INFO(High) SesmLu: **** Starting New SesmLu Session ****
Apr 08 09, 04:22:11 AM INFO(High) SesmLu: **** Platform: Microsoft Windows Server 2003
Apr 08 09, 04:22:11 AM INFO(High) SesmLu: **** SesmLu Version: 11.0.4014.26
Apr 08 09, 04:22:11 AM INFO(High) SesmLu: ***************************************************************************************************************
Apr 08 09, 04:22:11 AM INFO(Med) SesmContentCatalog: Entered Init().
Apr 08 09, 04:22:11 AM INFO(Low) ProductUtil: Data root = C:\Program Files\Symantec\Symantec Endpoint Protection Manager\data
Apr 08 09, 04:22:11 AM ERROR SesmLu: CoCreateInstance failed to create an IluProductReg instance: (-2147024770) The specified module could not be found.
at .\SesmLu.cpp[633]
Apr 08 09, 04:22:11 AM ERROR SesmLu: Unitilizing COM. at .\SesmLu.cpp[634]
Apr 08 09, 04:22:11 AM ERROR SesmLu: Failed to initialize COM. Aborting. at .\SesmLu.cpp[130]
Apr 08 09, 04:22:11 AM ERROR SesmLu: Failed to initialize SesmLu. Aborting. at .\SesmLu.cpp[292]
Apr 08 09, 04:22:11 AM INFO(Med) SesmContentCatalog: Entered Init().
Apr 08 09, 04:22:11 AM ERROR SesmLu: Failed to initialize COM. Aborting. at .\SesmLu.cpp[130]
Apr 08 09, 04:22:11 AM ERROR SesmLu: Failed to initialize SesmLu. Aborting. at .\SesmLu.cpp[292]
Any help with this is greatly appreciated.