This was occurring when I tried to open any of our virtual machine templates in the VMware Console after copying it to the new server. I was able to come up with a solution after searching through the VMware forums.

If you’re using [VMWare Server Console] in local mode, switch to remote mode with a valid Admin-level login and try again.

I simply closed the Console, restarted it and entered my login credentials in remote mode instead of choosing “local mode”. This work-around allowed me to add the server templates without further error!