Bare Metal Recovery Online Windows Backup fails with "Failed to gather VSS writer metadata" error (4046583)

After rebooting the NetVault Client and making sure that there was a minimum of 30% free disk space available for VSS backups, the Bare Metal Recovery Live Windows Backup still failed with the following errors:

Error 2012/01/17 09:32:35 423 Data Plugin JB-TS08 ERROR: Failed to gather VSS writer metadata
Error 2012/01/17 09:32:35 423 Data Plugin JB-TS08 ERROR: Failed to Initialize VSS
Error 2012/01/17 09:32:35 423 Jobs NVBUSRV Fatal error: Backup failed

Around that time we confirmed the following error message within in the Windows Application Event log:

Event Type: Error
Event Source: VSS
Event ID: 12302
Description: Volume Shadow Copy Service error: An internal inconsistency was detected in trying to contact shadow copy service writers. Please check to see that the Event Service and Volume Shadow Copy Service are operating properly.