Error:  Failed to update binding information. (mscorlib)

Object reference not set to an instance of object (Microsoft.BizTalk.ExplorerOM)

This happened when I created a new empty application.  It took a binding file, i.e. “a feed” from another app, exported it, changed the environment names, and re-imported it.

The problem was that the binding used maps and pipelines from another app.  There was nothing wrong with the binding file.  The way to get around the error was to add a reference in the new app to the old app that contains the maps and pipelines.