I suspect there's _actually_ something wrong with the Illustrator file (and not your Illustrator installation). You might try to place the EPS or AI file (what is it, actually?) into an InDesign document, create a PDF of it and open that PDF with Illustrator in order to resurrect some of your work (albeit with a lot of strange paths that get added by creating the PDF), but I guess the most simple way is to actually open the file in Photoshop, print the file and re-draw it in Illustrator. (You can also copy from Photoshop to Illustrator. Won't give you vectors, but you can put the bitmap in a special layer, fix it and make it translucent if you're working with a current version of Illustrator.)
Btw.: Has the file been previously worked on in a different version of Illustrator? What version of Illustrator are you using? 8, 9, 10, CS or CS 2? All this is important, of course...