Sharepoint Eventid 6875.. Sharepoint service 3 (project server)

Hi.
I'm haveing a problem with a sharepoint server.. My event logg keeps getting flooded with a error Event ID 6875 Full error text below.


- <Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">
- <System>
  <Provider Name="Windows SharePoint Services 3" />
  <EventID Qualifiers="0">6875</EventID>
  <Level>2</Level>
  <Task>1105</Task>
  <Keywords>0x80000000000000</Keywords>
  <TimeCreated SystemTime="2010-09-13T06:37:18.000Z" />
  <EventRecordID>3027708</EventRecordID>
  <Channel>Application</Channel>
  <Computer>moss.prediktor.no</Computer>
  <Security />
  </System>
- <EventData>
  <Data>Microsoft.Office.Project.PWA.WSSEventReceivers.PSDBUpdater</Data>
  <Data>Microsoft.Office.Project.Server.PWA,Version=12.0.0.0,Culture=neutral,PublicKeyToken=1111111111111111(edited)</Data>
  <Data>: Value does not fall within the expected range.</Data>
  </EventData>
  </Event>


Anyone got an idea where I should start looking??
Have tried google and most other search engines it no luck.