If you are encountering this issue with your CI process and using NCover here is a fix:
After playing around with NCover 1.5.1 beta 2 I was seeing the "Profiled process terminated. Profiler connection not established." error when running under a limited user account. The account was a member of Debugger Users, but that was all. There was no Coverage.log file being produced, and after a minute or so NCover would fail with the "Profiler Connection not established" error message. In order to get NCover to work under this account I had to do the following:
Set account's registry permissions
Re-register the CoverLib COM component
Run "regsvr32 coverlib.dll" from the directory where NCover is installed. This will need to be run from an administrator account.
I tried re-registering coverlib.dll since the COM registry entries seemed to only exist in HKCU for the Administrator's account rather than in HKLM.
I'm guessing that the installer only installs NCover for the current user (i.e. Administrator) rather than for all users, but I could be totally wrong.