When registering an OLE server without appropriate (admin) rights, TOcRegistrar throws "TRegKey::TRegKey: Init failed", even if the "-QuietReg" option is supplied in the command line, or the preselectedOptions parameter of the TOcRegistrar::TOcRegistrar() call has the amNoRegValidate flag set.
PS. Also see related issue "TOcRegistrar constructor throws exception when registry access fails (regression in 6.40)" [bugs:#376].
Bugs: #376
Discussion: State of OCFNext — time to discontinue?
Wiki: OWLNext_Stable_Releases
The fix for this issue was released in OWLNext 7.0.5.