When you use the Edit Object Tool to execute the Edit Object or Edit Image commands, Acrobat X returns the following error:
"Acrobat cannot start the image [or object] editing application you've specified. Verify the image [or object] editing application location on the TouchUp panel in Preferences."
This error appears even when the image and object editing applications are correctly specified in the TouchUp panel of the Preferences dialog box.
Adobe is aware of the issue, and hopes to have it addressed in a future release. In the meantime, Adobe is searching for possible workarounds. The best recommendation is to obtain the original source document and make your edits, then regenerate the PDF.