Please do the following:
Repair Disk Permissions with the Disk Utility application, located in the Applications/Utilities folder. This may take a while, so please be patient. This procedure is generally recommended after a main application installation or when things get hard.
Quit the program if it is running, and delete the file located at:
Note for Lion users:Mac OS X 10.7 Lion hides the Library directory by default. Hold the Option key and use the “Go” menu in the Finder to Show Library.
Launch the app in order to recreate from scratch the resources it needs.
If you have already followed the steps recommended above but you continue to have problems opening encrypted spaces
In this case we recommend to follow the steps described in the Create Encrypted Disk Images instead of Self Mounting Encrypted Space solution.