Process Monitor v1.24 is now released and available for download at:
So why do you want it? You'll want this updated version because it adds the /HookRegistry switch. This switch, which is available only on 32-bit Windows Vista and Windows Server 2008, instructs Process Monitor to use system-call hooking instead of the Registry callback mechanism to monitor Registry activity. This enables Process monitor to see SoftGrid virtual Registry operations on these operating systems whereas with prior versions this activity may not have been reported. This option must be used the first time that Process Monitor is run on a system and should only be used to troubleshoot SoftGrid applications.
If you are seeing lots of invalid names then upgrade to 1.24 and get going!
So basically if you're troubleshooting SoftGrid virtualized applications on Windows Vista then you need to be using this new version or you won't be seeing the whole picture.