I just resolved my issue by doing the following: (Note: I still need to see how long the issue will remain in a resolved state, but please REPLY to this posting if it works at your end)
1) Open AE
2) Expand you archive structure folder until you see Archived Messages on the right pane of your AE view.
3) Select an archived item and assure that the "Save As..., REPLY, REPLY TO ALL and FORWARD" options are grayed out.
4) Click on the AE "Settings" button.
5) Select the "Check Name" button but assure that the "Microsoft Outlook" option had previously been selected.
6) Once the "Check Name" wizard has been completed. Click OK.
(Note: My "Check Name" wizard failed because it could not verify my account. However this still resolved my context menu issue.)
Please advise on your comments or feedback,
Thanks,
Dennis