Question : "Cannot open your exchange account. The information store could not be opened."

I can successfuly setup the exchange account in Control Panel > Mail. When I open Outlook, however, the message "Cannot open your exchange account. The information store could not be opened" pops up. It is already updated to SP2. This is on a Windows 7 machine connecting via VPN to the network.

Answer : "Cannot open your exchange account. The information store could not be opened."

Firstly, check communication.  Ping the FQDN of the exchange server, like this

ping exchangeserver.domain.local

Then, ensure that your VPN is not blocking any ports.