This indicates a possible attempt to exploit a format string vulnerability in HP OpenView 7.53.
The vulnerability is in the "ovalarmsrv" service in ov.dll. It results from the application's failure to check user supplied input, leading to arbitrary code execution. By exploiting this a remote attacker may be able to gain control of vulnerable systems.
HP OpenView 7.53 and earlier versions.
System Compromise: remote code execution.
The vendor has not published a patch at this time.