Creating a formula field within the OLDEB query tool fails with error 0x80070582

Symptom

When you create a new formula field within the OLEDB query tool you may see the following error:

0x80070582

Cause

Caused by having multiple tasks with OLEDB query tool opened and editing the same formula field.

Background

0x80070582 is a Windows error code meaning “Class already exists”. In the context of this issue the “class” referred to is the formula editor class.

Resolution

Ensure the OLEDB query formula field is only being edited once.