Exception error "System.Windows.Forms.Control.ControlCollection.Add(Control value)" when launching Toad (4306438)

Toad Data Point is not opening and throwing the following exception:

"System.Windows.Forms.Control.ControlCollection.Add(Control value)

at System.Windows.Forms.Form.ControlCollection.Add(Control value)
at DevExpress.XtraEditors.XtraForm.XFormControlCollection.Add(Control value)
at Quest.Toad.Gui.MainForm.InitializeComponent() at Quest.Toad.Gui.MainForm..ctor()
at Quest.Toad.StartupForm.MainAppicationEntryPoint(String[] args) at Quest.Toad.ToadProcessEntryPoint.Main(String[] args) "

1. Go to C:\Users\<username>\AppData\Roaming\Quest Software
2. Rename all Toad Data Point X.x folders to X.x_old
3. Attempt to launch Toad. If it launches, then go ahead and close again
4. Go back to C:\Users\<username>\AppData\Roaming\Quest Software\Toad Data Point X.x_old (where X.x is the latest Toad version)
5. Copy the Connections.xml file to the newly created C:\Users\<username>\AppData\Roaming\Quest Software\Toad Data Point X.x folder