After following the release notes and upgrading the Notification Server to SP3 he went into Tasks> Software Management> Patch Management> Manage Software Updates and there were no Bulletins showing in the Manage Software Updates grid. Then checking C:\Program Files\Altiris\Patch Management all sub folders under Patch Management were gone.
Run part of the Patch Management Repair outlined in KB 17367 which states to do the following.
Repair the Patch Management MSI files in order (Computer Management, Software Management, etc.). Go to Add\Remove Programs in the Control Panel of the Notification Server. Then repair the files in the order shown below.
If no language pack is required proceed with the following in this order: