Hi David,
I just checked also in VS 2010, same error message. It likely is due to Since CR for VS was not included with Visual Studio and is a separate download now and MS no longer manages our updates it is a message that you can ignore and go to the link above for updates.
What version of VS and CR were you previously using where this did work?
FYI - New Knowledge base article:
2053019 - Check for Crystal Reports updates in
Visual Studio 2010 and above generates an Error in the FlexNet server - The
product version is not registered on the server
Thanks again
Don