Every now and then something new, today the Exchange Management Shell under Exchange 2010 gave me this error:
Warning: Export modules for the current session cannot be generated using Import-PSSession.
The red error message also contained a path, but I have blacked it out. The solution to the problem is to delete the corresponding folder under the following directory:
%appdata%\Microsoft\Exchange\RemotePowerShell
In this directory there are subfolders with the corresponding server names. Simply remove the faulty directory and restart the shell.
And lo and behold, it's up and running again.