Unfortunately it turns out that solution doesn't even work. Even if the registry key classes
is created like any other normal registry key, Ad-Aware still prevents the sandboxed registry from being unloaded. And since the files that make up the sandboxed registry reside in the sandbox folder, it means the sandbox folder cannot be deleted.
Thus at this time, Guest10's suggestion
to disable the Ad-Watch Live! component is the only possible resolution.
I've updated the following help pages with this information:
http://www.sandboxie.com/index.php?Know ... ts#adaware
Hopefully that will be of some help to people who encounter this problem.
I've also sent mail to Ad-Aware about it and I hope they can respond with a solution.