There is a post about this issue here in the forums that is marked "resolved":
This issue is clearly not fixed (or resolved). I can tell you I'm seeing the same problem.
When any user logs into to site and goes to their dash board they will see the message:
You have "x" new member requests that need to be approved or denied. Please click here to take action.
If they click, they get:
You do not have sufficient permissions to access this page.
But, of course, they should not ever see that message to begin with :-(
Thanks for your work on this very helpful plugin :-)