When you start your AX Client connected with TFS you get the following errors:  
Team foundation server error
TF237121: Cannot complete the operation. An unexpected error occurred.
Unspecified error (Windows) Failed to update metadata cache. (Object Model)

This issue is caused by local user's cache from TFS that get corrupted for some reason. First, close the AX Client and navigate to this folder:

%localappdata%\Microsoft\Team Foundation

You should find version folder; in my case there are version 3.0 and version 5.0:

In each of these folder, you should find a Cache folder, simply delete it.

Now restart the AX Client. It should now restart without the TFS error.
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