mmc could not create the snap-in.

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After installing KB2416473, while launching MMC it may throw the following error:

mmc

Here is the complete workaround:

1) If 3.0 is installed ("C:\windows\Microsoft.NET\Framework\v3.0\Windows Communication Foundation\ServiceModelReg.exe" exists), run the following:
C:\windows\Microsoft.NET\Framework\v3.5\WFServicesReg.exe /r /b
"C:\windows\Microsoft.NET\Framework\v3.0\Windows Communication Foundation\ServiceModelReg.exe" /i
C:\windows\Microsoft.NET\Framework\v3.5\WFServicesReg.exe /c

2) If 3.0 is not installed ("C:\windows\Microsoft.NET\Framework\v3.0\Windows Communication Foundation\ServiceModelReg.exe" does not exist), run the following:
C:\windows\Microsoft.NET\Framework\v3.5\WFServicesReg.exe /r /b