This is what it looks like in the NFREgine log file!
Loading saved state information...
01 2013-03-22 13:38:57 3600 5 0001 6084 5128 ML: Completed loading state information, bOK = 1.
01 2013-03-22 13:38:57 3600 5 0001 6084 5128 ML: Validating the credentials set...
01 2013-03-22 13:38:57 3600 5 0001 6084 5128 ML: Completed validating the credentials set, bOK = 1.
01 2013-03-22 13:38:58 3600 5 0001 6084 5128 ML: Called TestServerSecurityForComponent(..., security_configuration_type_engine, L"AMSDOMAIN\nfrproxy", L"AMSDOMAIN\nfrproxyrights", ...), bSecurityOK = 0, Result = 15.
01 2013-03-22 13:38:58 3600 5 0001 6084 5128 ML: - CfgWizTestBuiltinAdministratorsMembershipOnServer() - Called IsMemberOfLocalGroup(L"", "INGEBOUWD\Administrators", "AMSDOMAIN\nfrproxyrights", ...), Result = 15.
01 2013-03-22 13:38:58 3600 4 0001 6084 5128 ML: Attempting to fix any incorrect and/or missing security settings for the Proxy account