I'm having the same issue. It looks like it started for us out all of a sudden on 01-30-08 at around 10pm. Nothing has been changed on the system. I've googled around and do not see anything about this error.
Event Type: Error
Event Source: LogReaderEvents
Event Category: None
Event ID: 1
Date: 2/11/2008
Time: 3:17:56 PM
User: N/A
Computer: %computername%
The description for Event ID ( 1 ) in Source ( LogReaderEvents ) cannot be found. The local computer may not have the necessary registry information or message DLL files to display messages from a remote computer. You may be able to use the /AUXSOURCE= flag to retrieve this description; see Help and Support for details. The following information is part of the event: Label not found for "last FILELOOP" at C:\Program Files\Common Files\Symantec Shared\Reporting Agents\Win32/sub_logreader.pl line 363.