On creation of a restore from Manifest File job vRanger does not accept the credentials (red exclamation) and therefore the restore job can't be created.
A special character (such as !@#$%^&*) at the beginning or the end of the password to access the Repository can cause this issue to occur.
Use a different password or change the password so that there are no special characters at the beginning or the end of the password that is used to connect to the Repository. Once that is done Restore from Manifest file should now work.
*Note: If the above solution does not resolve this issue and you are NOT on vRanger: Backup and Replication 5.4, please see below.
This issue is fixed in version 5.4. Before attempting this procedure please upgrade from your current version to 5.4, released 5/21/2012.