The first symptom ....
Oracle BAM Active data cache fails to start.
I went ahead and checked the logs in $ORACLE_BAM_HOME\Logs\ActiveDataCache.log.
I see a error trace that looks like
2008-12-06 03:02:01,391  ERROR - ActiveDataCache DPAPI was unable to decrypt data. CryptUnprotectData failed. Error -2146893813: Key not valid for use in specified state.
2008-12-06 03:02:01,401  WARN - ActiveDataCache Exception occurred in method Startup
at Oracle.BAM.Common.Security.DataProtector.DPAPI.Decrypt(Byte cipherTextBytes, Byte entropyBytes, String& description)
at Oracle.BAM.Common.Security.DataProtector.DPAPI.Decrypt(String cipherText, String entropy, String& description)
at Oracle.BAM.Common.Security.DataProtector.DPAPI.Decrypt(String cipherText)
at Oracle.BAM.Common.Security.DataProtector.DataProtector.Decrypt(String strData)
at Oracle.BAM.ActiveDataCache.Kernel.StorageEngine.Oracle.ConnectionStringDecrypter.Decrypt(String strEncrypted)
at Oracle.BAM.ActiveDataCache.Kernel.StorageEngine.Oracle.OracleStorageEngine.Startup(IDictionary oParameters)
Fortunately, Metalink had a nice note on this one.
See Document 467837.1 on metalink.
The next showstopper
After this got fixed, I attempted to load up the Oracle BAM home page - but it would not load up.
It stated the following error message.
"Server Application Unavailable
The web application you are attempting to access on this web server is currently unavailable.
Please hit the "Refresh" button in your web browser to retry your request. "
I went ahead and took a look at the Event Viewer in my Control Panel --> Administrative Tools.
It had a bunch of errors that stated
aspnet_wp.exe could not be started. The error code for the failure is 80004005. This error can be caused when the worker process account has insufficient rights to read the .NET Framework files. Please ensure that the .NET Framework is correctly installed and that the ACLs on the installation directory allow access to the configured account.
For more information, see Help and Support Center at http://go.microsoft.com/fwlink/events.asp.
Fortunately, I was able to find a solution at http://support.microsoft.com/kb/315158.