Driver errors occur regardless of your build date, and it's generally a good idea to keep them reasonably up to date from the card manufacturer's website.
The "hardware failed to switch to specified mode" error specifically relates to the OpenGL renderer attempting to switch to a fullscreen resolution and bit depth unsupported by your video card and/or video drivers. It is more common on laptops and odd configurations with a limited list of supported fullscreen resolutions using default preferences, or preferences from another machine.
In most cases, you can solve it by either running the game in a window (Tribes2.exe -online -w) and selecting your prefered resolution from the settings, or manually choosing your resolution in your clientPrefs.cs file.
$pref::Video::fullScreen = 0;
$pref::Video::resolution = "640 480 32";
Once ingame, the OpenGL driver should be able to poll your device for a list of supported fullscreen resolutions, so it is unlikely you should have further issues.