Customers have been offered KB937061 for Visual Studio 2005 Service Pack 1 from Microsoft Update when they have already installed it. The Microsoft Security Response Center blog has more information about the problem and what they have done to fix it.
I wanted to add that because patches are cached according to their package code, you do not have multiple copies installed for each time you successfully installed the patch.
The updated detection logic has been pushed to Microsoft Update, but if you are still being offered KB937061 follow the instructions below.
- net stop wuauserv
- rmdir /q /s %WINDIR%SoftwareDistribution
- net start wuauserv