I was building my VMware View lab at home and came across this error in 4.5 again:

"The View Connection Server connection failed. (null)"

This occurs when you are using View Client 4.5.0 with Windows 7 SP1 - exactly as in my case, due to an updated networking library.
It can also occur if you have installed Microsoft patches 2482017 or 2467023

To resolve this you must install View Client 4.5 build 353760 or View Client 4.6
For further details see http://kb.vmware.com/kb/1028650