The error message is something to the effect of “Console initialization failure: WinRM error: The content type is absent or invalid.” I’ve since forgotten if this message shows up in the management console or the shell but both will display a similar message when trying to connect the the installed exchange server. Other errors you might see are along the lines of “The WinRM client sent a request.”
The resolution actually turned out to be very simple. Go to your IIS install and find the wwwroot directory. In that directory is a file called web.config. Rename this file. Now open a command prompt and issue the following command:
You should now be able to get into the Exchange Mangement Console or Shell.