The Runtime Environment Setup: PWRREG window shows:
[PWRREG]
@IconName=COB85EXE
@ScrnSize=(80,24)
@CnslWinSize=(80,24)
@CnslBufLine=100
@WinCloseMsg=ON
@EnvSetWindow=USE
@AllFileExclusive=NO
@CBR_PrintTextPosition=TYPE1
@CBR_TextAlign=BOTTOM

1. From Start, Computers, browse to the Fundware\Data folder and locate the COBOL85.cbr file.
2. Change the line that says @EnvSetWindow=USE to @EnvSetWindow=UNUSE.
3. Run the Program again within Division 00 - System Administration, System Utilities.

The error might also mean that the cobol85.cbr is not in the data directory at all.  If missing, it can be copied from another system. Once copied in to data, the programs will work again.