Windows 7 x64: Process Explorer Privilege Elevation Annoyance

Today I installed Process Explorer on a Windows 7 x64 machine. I discovered that elevating the privileges of Process Explorer to view information about all system processes results in an annoying dialog box:

"Windows cannot find E:\Users\Username\AppData\Local\Temp\procexp.exe. Make sure you typed the name correctly, and then try again"

In order to get rid of this annoying thing, I needed to change permissions on the folder containing procexp.exe; I granted "Users" "Write" permissions on the folder, and the meddlesome dialog box went away.