The following error occurs in the application log:

Event Type: Error
Event Source: crypt32
Event Category: None
Event ID: 8
Date: date
Time: time
User: user name
Computer: computer name
Description:
Failed auto update retrieval of third-party root list sequence number from: <http://www.download.windowsupdate.com/msdownload/update/v3/static/trustedr/en/authrootseq.txt> with error: This operation returned because the timeout period expired.
For more information, see Help and Support Center at http://support.microsoft.com.

This behavior can occur if the Update Root Certificates component is turned on and the computer cannot connect to the Windows Update server on the Internet. The Update Root Certificates component automatically updates trusted root-certificate authorities from the Microsoft Update server at regular intervals.

To resolve this behavior, you must connect to the Internet or turn off the Update Root Certificates component. To turn off the Update Root Certificates component, follow these steps:
In Control Panel, double-click Add/Remove Programs.
Click Add/Remove Windows Components.
Click to clear the Update Root Certificates check box, and then continue with the Windows Components Wizard.

Or, by using a GPO turn off the option.
Computer Configuration – Administrative Templates – System – Internet Communication Settings
“Turn off Automatic Root Certificates Update”

http://support.microsoft.com/kb/317541