the timeout errors in windows (error 1053) can be addressed by adjusting the UI timeout (default 60 seconds).
Check for the SMH log for entries such as this:
MAJOR 11/19/2012 2:19:24 PM
UI Timeout (limit: 120s) — vcagent(HPVersionControlAgent):359s||vcrepository(HPVersionControlRepositoryManager):0s||elm(backwardscompatibility):0s
which indicates that the one of the agents needed more time than that specified by the UI Timeout limit.