I'm also experiencing the same problem. I got the exact same error message as jgj.
I have the non-open-source version (with PUEL) installed. I uninstalled it totally and installed the full version (again not the OSE, but the full version) from virtualbox site (the mandriva .rpm). Still the same problem as jgj.
After reading this thread I installed the dkms-virtualbox-1.5.0-6mdv2008.0 as suggested by pmpatrick. The only thing is that the dkms-virtualbox is meant for OSE version of VBox - I don't know if it's needed for the full version.
Anyway, I rebooted and got through the first part of scarecrow's advice. But the "vbox_build_module" was not recognized:
CODE
[root@localhost home]# vbox_build_module
bash: vbox_build_module: command not found
I still tried the third line in scarecrow's post:
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[root@localhost home]# modprobe vboxdrv
FATAL: Could not open '/lib/modules/2.6.22.18-desktop-1mdv/kernel/3rdparty/vbox/vboxdrv.ko.gz': No such file or directory
OK, I then did what was suggested in the VirtualBox error message and that was to re-setup the kernel-module by executing /etc/init.d/vboxdrv setup.
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[root@localhost home]# /etc/init.d/vboxdrv setup
Stopping VirtualBox kernel module [ OK ]
Recompiling VirtualBox kernel module [FAILED]
(Look at /var/log/vbox-install.log to find out what went wrong)
[root@localhost home]#
And I couldn't make head or tail of that message. I could post some of it if that would help.