Cannot connect to the Team Foundation Server at '{0}'. The lab service account available on this machine is not valid. Either ...

Cannot connect to the Team Foundation Server at '{0}'. The lab service account available on this machine is not valid. Either the updated service account is not available on this machine or the service account is not updated on Team Foundation Server. Try to repair the workflow capability and then wait several minutes. If you still observe this problem, contact your team project collection administrator.