You see this message in the following cases:
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The file you are trying to open is not a valid LoadComplete project file. For example, it is corrupted.
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The specified project is incompatible with the current version of LoadComplete. For example, it was created in an earlier product version.
LoadComplete 4 can open only those projects that were created in LoadComplete 4 or LoadUIWeb 2.99.
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The project you are opening in LoadComplete refers to a file whose data cannot be used for the given LoadComplete project item or its element.
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The data of the file from which you are adding a project item or its element cannot be used for the given LoadComplete project item or its element.
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The specified file does not exist.