FOR THE ONES THAT have the same error check and see if you have installed .NET Framework 3.5 if not try to uninstall everything that you have done to start the server (mysql, navicat and ascent) then go and download .NET 3.5 it from Microsoft ... and install it ...
NOW before you uninstal MySQL start the wizard and delete the service "root" if you have created it ... you can figure it out from the wizard
then you probably should start the config from scratch ... to have a clean install to all components (Firts MySQL - With it's service "root", then navicat, create the connection and test it and after that the databse "world" then modify the asccent-logonserver , ascent-realms and ascent-world conf files as specified and then run the logonserver and world exe files while having navicat open and started) .... and if you didn't do any mistakes .... make sure you keep the same caps for every thing that you have to change ... some things in here are case sensitive ... as i encounter some problems to at the beginning ... and when youre done give it a try and ... what can i say ... it should work ... if not then post again ...
my believe is that if you use a proper sequence to install everything you cannot get it wrong ... i personally had some problems too at the begining but now i have the server for quite a week now and i didn't have any more problems ... AT ALL
i even started to customize my server now ...

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Oohh, and props to HAAR good fix for the LUA .. i dont get that error anymore... you got +Rep from me