I had exactly the same problem and after searching the net found several possible fixes.
The first thing was to install Borland Database to see if that resolved the issue
info.borland.com/devsupport/bde/bdeupdate.html
(it wouldn't download from the above site for me, so I used a third party site and even installing the program didn't resolve the issue for me). The next post I found suggested creating a new Outlook profile and/or upgrading Coral to the latest version.
Before attempting either, I also had a completely seperate unrelated issue with a genealogy program which their support forum suggested removing Google Desktop Search ... I don't actually have that program, but did have Windows Desktop Search installed so on a hunch I removed that and TADA!! not only did it fix the problem with the genealogy program, it also resulted in no more Borland error message when opening Outlook. So ... the solution ... remove any desktop search programs.
Hope this helps!