hi Jay,
Same problem here, KT just started to show KTEMAI~1.dll error (previously, it showed the entire name... kemain32.dll ... hmm whatever that means).
Worked again after complete (but complete reinstall of Office 365). Previously, I had uninstalled and reinstalled Office, but i had forget some leftovers (plus, I had a bad mix).
Anyway, coming back to say if nothing else works, complete uninstall of Office 365 and reinstall of KT worked for me.
Which, obviously, is a clear indicator it's not a KT problem...
Sorry for the noise, guys!