ImportFromESRISpatialReference() method in ArcEditor 10

We have a wktString string which does not have PROJECTION info as below.

'sWkText = "PROJCS[""NAD_1983_StatePlane_Alabama_East_FIPS_0101"",GEOGCS[""Longitude_Latitude"",DATUM[""North_American_1983"",SPHEROID[""GRS_1980"",6378137,298.2572221]],PRIMEM[""Greenwich"",0],UNIT[""Degree"",0.0174532925199433]],PROJECTION[""""],PARAMETER[""Scale_Factor"",0.999960],PARAMETER[""Standard_Parallel_1"",0.000000],PARAMETER[""Standard_Parallel_2"",0.000000],PARAMETER[""Central_Meridian"",-85.833333],PARAMETER[""Latitude_Of_Origin"",30.500000],PARAMETER[""False_Easting"",200000.000000],PARAMETER[""False_Northing"",0.000000],UNIT[""Meter"",1.0]]"

We were trying to use ImportFromESRISpatialReference() which was throwing error. But the same above wktext was working fine with ArcView 8.1 even though Projection info. is empty.
Is there any thing changed or approach with ArcEditor 10?
Is the method should strictly follow the wktext or even it works without Projection info?

Dim oParameterImport As IESRISpatialReferenceGEN
oParameterImport = New ProjectedCoordinateSystem
oParameterImport.ImportFromESRISpatialReference(sWkText, sWkText.Length())

regards,
Hari.