If this error is ever encountered:
It is due to the Print Job limit being hit. By default, it is 75. Once this value is reached, the above error will happen and IIS will need to be reset in order to get Launchpad working again.
The Job limit can be extended to a higher number by modifying the registry (Depending on system architecture, it may not be in the WOW6432Node):

Computer\HKEY_LOCAL_MACHINE\SOFTWARE\WOW6432Node\SAP BusinessObjects\Crystal Reports for .NET Framework 4.0\Report Application Server\Server

Computer\HKEY_LOCAL_MACHINE\SOFTWARE\WOW6432Node\SAP BusinessObjects\Crystal Reports for .NET Framework 4.0\Report Application Server\InprocServer
Change the Print Job Limit from 75 to a higher number. -1 will make it unlimited, but can cause performance issues on the server itself.
Crystal tabulates the count, and each report can and will likely represent multiples. It is not fully clear on the exact parameters the Crystal engine will use but reports containing sub reports start adding to that number, among other reporting techniques.
Recommendations:
A good start point for the PrintJobLimit is 3-4X the number of active reports.
Launchpad will display the number of active reports in memory; This is on the footer of the main listing page. Monitoring this page thought the day, looking for the “peak activity” is recommend