Okay, this is maybe already known out there for quite a while, but I am putting this on my blog anyway.
You may experience that the IIS Manager console is empty when opening it up. This is because IIS has too many threads connected to it. Usually these threads are taken up by the Timer service. An easy workaround for this issue is to simply execute iisreset.exe. After the reset you can open up IIS Manager again.
Additionaly, when this problem is occuring, you may find the following events in the Applications log:
– Event ID 6398
– Event ID 6482
– Event ID 7076
A definite fix to this issue can be found by installing the hotfix as described in KB946517