I know this is much later but I ran into the same problems with the "failed to read data from content center" in 2014 and I kept getting back to this thread. I too do not use a vault server which most of the answers seemed to be geared toward. I did solve it and maybe this will help someone else.
I would physically navigate to the folder via windows explorer at "C:\Program Files\Autodesk\Inventor 2014\Content Center\Libraries" and I can see what I thought were library files in the folder (.idcl). I made sure under Tools>Applicationn Options that my paths were correct both under the "File" and "Content Center" tabs.
Then under the pear or main tab>Manage>Projects I clicked the Configure Libraries button in the bottom right corner (mine never tells me what that button is when I hover over it. In that box the give me a "Location of Libraries" with a link.It takes you to your location. Mine was C:\ProgramData\Autodesk\Inventor 2014\Content Center\Libraries. When I opened that link it show me no files. I just copied the files from the windows explorer window to the one opened by Inventor and BOOM...it worked!
I thought they were the same files at first then I noticed that Inventor stored the libraries in "Program Files" by default and the library was trying to look in "ProgramData" even though the subfolders are exactly the same.
Not sure how you got your Inventor Desktop Library files (*.idcl) in Program Files but the default installation is C:\Programdata\Autodesk\Inventor <version>.
Also when you talk about Applications Options/File tab or Content Center Tab.. Make sure the Content Center tab is pointing to the library files (*.idcl) and the File tab is telling where to put the Content Center component once they are pulled from Content Center and placed into an assembly.
In addition under the folder option of your active project file, if the Content center option is set to default it reads the path from Application Option/Files tab. If its set to something else than its using that location to store content center components.
The lower right hand corner button in the Inventor Project Editor is called Configure Content Center Libraries
Mark Lancaster
& Autodesk Services MarketPlace Provider
Autodesk Inventor Certified Professional & not an Autodesk Employee
Likes is much appreciated if the information I have shared is helpful to you and/or others
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