Object variable not set Error in Preferences/Calendar Profile

When saving some changes to the CalendarProfile, in other words called as Preferences, you may get the following error message repeatedly sometime after opening it / sometime after click the OK button to save the changes.

This happens usually in the mail-in applications.
Object variable not set
On Module: CLICK
On Line: 32
On Method: CLICK

Field is too large - 01

Problem Description

Error Encountered: “Field is too large (32K) or View’s column & selection formulas are too large”

Problem Scenario:

You have recently deployed some of your changes and suddenly every document gets locked. You can’t edit any existing documents or save a new document. When you close or open any document you get the following error:

You can’t do anything with the database. You check in your test copy and everything works perfectly fine there. You check the production copy’s data size and it is not too much to trigger the error. This error doesn’t let anyone to make any changes to the database.