This worked for me with the MacOS release of VirtualBox as well (release 4.1.12). I waited 5-10 seconds for VirtualBox to quit before re-launching. I looked in Activity Monitor to make sure VBoxSVC had quit properly.
If you don't do this, you will get an error that looks something like the following (I'm copying and pasting someone else's error message which comes from Windows). If you get this error, it's simply because you didn't quit VirtualBox or wait long enough for VBoxSVC to quit.
Failed to open virtual machine located in E:/<path>/<machine_name>/<machine_name>.vbox.
Cannot register the hard disk 'E:\<path>\<machine_name>\Snapshots/{0ece4bff-9185-4cff-9069-b3d1f4536394}.vdi' {0ece4bff-9185-4cff-9069-b3d1f4536394}
because a hard disk 'C:\<path>\<machine_name>\Snapshots/{0ece4bff-9185-4cff-9069-b3d1f4536394}.vdi' with UUID {0ece4bff-9185-4cff-9069-b3d1f4536394} already exists.
Result Code: E_INVALIDARG (0x80070057)
Component: VirtualBox
Interface: IVirtualBox {c28be65f-1a8f-43b4-81f1-eb60cb516e66}