I have the same problem. Installed latest DirectX and ATi Catalyst 7.2 drivers. I'm using Windows Vista x32 Business, and an ATi Radeon X1800GTO card.
ArmA worked perfectly fine (v1.04), I installed the patch without problems and when I started the game I immediately got this error. Then, I removed the config settings from the My Documents/ArmA folder and now I come a bit further in the game, I get a black screen (after getting all the V's in the boxes as a loading indicator) for a very short time (it looks like its actually starting ArmA), and then it returns to the desktop with this Error compiling vertex shader pool.
My version is the 505 Games version.
System:
AMD Athlon64 X2 3800+
1.5GB DDR400
X1800GTO
Nvidia NForce4 Ultra chipset
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