Insufficient number of random bits
This is an easy problem to fix... What has happened is that the PGP setting file has forgotten where it keeps it's random seed file. To fix the problem:

1. Start PGPKeys
2. Select Preferences
3. Set the "random seed" option to point to the random seed file in the PGP folder, which is in your preferences folder (inside the system folder)

However, if the above fix does not work, then there is an alternate "fix" which is even simpler: just create a new keypair...and the randomseed file will be re-created!