ColdFusion MX 7: Collections are not seen in the Administrator when connecting to full Verity K2 Server product

(TechNote) In ColdFusion MX 7, when connecting to a full version of the Verity K2 Server product, the collections may not show up in the ColdFusion Administrator. No errors occur in the log files but, when selecting the Verity Collections link in the ColdFusion Administrator, you will see:

Unable to retrieve collections from the Search Service.