I have problems printing a pdf from a drawing in AutoCAD LT 2008. Every day or everyother day I seem to need to update Adobe Acrobat (Windows Vista). I update Acrobat, shut down computer and printer and restart. Usually it works but is a total hassle. Now I am running AutoCAD in Paralles on a Mac Book Pro and having the same problem but now I can't fix by udating and restarting. I get the error message: "Adobe PDFcreation cannot continue because Acrobat is not activated." Then it starts up my Adobe Acrobat 8 Professional, which does nothing to fix the problem.
Sounds like adobe is like autodesk in that it needs an activation code or some other form of authentication. You say Adobe opens? Search the menus ( maybe in 'file' or 'tools'->'options') for a place to run activation of Adobe.
If that doesn't work try this site for help: http://www.adobe.com/products/activation/.