So i have been searching all over for the solution to a grayed out media manager and have seen many posts asking the same questions but no solution, maybe i missed it, if so sorry for the repost. If anyone knows how to fix this please help.
Downloading the install file from the Blackberry website and using that instead of the CD seems to work for most people.
If you're running Windows Vista, then installing it from the CD but choosing the option to make the installation available only to the currently logged on user (instead of all users) also worked for me.