Does CoCreateInstance call indicate that w3wp.exe is starting / restarting?

So I see tons of these errors in the Windows Application Log indicating that a CLR profiler (BMC's ApsAgent Probe in my case) is failing to load.

.NET Runtime version 4.0.30319.18444 - Loading profiler failed during CoCreateInstance. Profiler CLSID: '{FF51CB90-1C9F-4b50-BA41-D48BDE9823B0}'. HRESULT: 0x8007045a. Process ID (decimal): 4176. Message ID: [0x2504].

I read on this msdn post that this sort of profiler gets loaded when the process starts. So my question is this: Does that mean every time I see this error in the event viewer I can infer that the associated process (w3wp.exe) is starting? Does that also mean my entire web application is restarting? (btw, the application pool is only set to use one process - ie NOT a "web garden").