If you get the error 'CLRObject could not be created' when entering Tools/Options from the AOT in Microsoft Dynamics AX 2012
Try to go to the Control Panel/Administrative Tools and check the Microsoft Dynamics AX 2012 Server Configuration and note if you have 'Enable the hot-swapping of assemblies for each development session' activated.
If the 'Enable the hot-swapping of assemblies for each development session' parameter is activated, try to deactivate it, press Apply and say Yes to restarting the AOS Service. Then try to go to the AOT/Tools/Options and see if you are not able to enter the Options screen without any error
You can find out more information about hotswapping here http://msdn.microsoft.com/en-us/library/gg889279.aspx
It is working fine. Thanks for your valuable Post.