That sounds familiar.
(excerts from another server/group):
==========================================
Have either/both of you used software from O&O?
It may be that the trial version of some of their software creates
that key with an embedded nul character as part of the trial
license...
Based only on:
http://groups-
beta.google.com/group/microsoft.public.platformsdk.base/browse_thre
ad/thread/8c07688122c95cfb/9caec8f093286455?q=HKEY_LOCAL_MACHINE
\SOFTWARE\Microsoft\Windows\CurrentVersion\system# 9caec8f093286455
or
http://makeashorterlink.com/?X575114AA
=========================================
=========================================
Bingo! I installed O&O Defrag on 1/6/2003, and thanks to a Total
Uninstall log I created at that time, I see that O&O Defrag added
the
"HKLM\SOFTWARE\Microsoft\Windows\CurrentVersion\Sy stem" key.
=========================================
=========================================
Sure enough, I followed the advice given in that newsgroup posting
(i.e.
opened the SOFTWARE hive in WinHex, searched for
0700000053797374656D00,
and changed the trailing "00" to "AA"), and now I have the
following two
values showing under the "Systemª" key:
OODEFRAG04.00.00.01SERVER
OODEFRAG06.00.00.01WORKSTATION
....with some very long hex strings for data.
Mind, you, I did this on a previously-saved SOFTWARE hive, backed
up a few days ago with ERUNT. Haven't "gone live" with it yet.

=========================================
The manual hive editing procedure is *hazardous*! Adequate full
registry backups are *manadatory*. Fallback or "un-do" procedures
*must* be available. Not recommended. It would be safest to just
leave such a key in place. Provided FWIW and YMMV