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A common error when trying to view the TM1 transaction log on Windows 2008 servers is an error about msmask32.ocx not being instantiated or registered.

Simply download the msmask32 file from Microsoft and register the file.  Detailed instructions on where to download the file and register it can be found in the article posted by IBM:
https://www-01.ibm.com/support/docview.wss?uid=swg21469061