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Here is what has likely happened to you: Recently the password for Administrator was changed. The Panda software uses a service account to run the Panda services. During the install, you probably specified the Administrator account as the service account. Now the service will not work until you update the password on the Panda service.
To update the password, open the services.msc snap-in, locate the Panda service(s) and view the properties of the service by clicking on the Log On tab. Change the password and click OK.
Read this article from Panda detailing the requirements for the service account:
What privileges are needed to install and administer ExchangeSecure?
Do you have comments on this Ask the Expert Q&A? Let us know.
Related information from SearchExchange.com:
Tip: A primer on Exchange public folders
Reference Center: Exchange public folder management
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