KB Issue
When creating a new site within Dreamweaver, you may encounter this error.
Dreamweaver Error
Dreamweaver cannot use the prefix you entered to display live data.
Issue Details
When adding a site to Dreamweaver CS (All versions), you may get the following error if you selected
Edit and test locally (my testing server is on this computer)
Dreamweaver cannot use the prefix
Dreamweaver cannot use the prefix you entered to
display live data. Please double-check your site
configuration or click on Help for more information on
how to correct this problem. (HTTP Error: 12150)

Recreate Issue
This error will happen if a Web Server is not installed, such as Microsoft Internet Information Services (IIS), or if you have not properly defined the current site within your Web Server.
Resolve Issue
To correct this issue, you must have installed and be running IIS (Internet Information Services) or another brand of Web Server on your machine to host your websites.
If you have a Web Server installed on your system, make sure it is running and that the site points to the same record (Folder) with the same name as you have chosen in DW Site Definition.
Example: http://192.168.2.9/wiki/
Copy
Search Site
Search Google

Make sure that within your Web Server, you have a [Site] properly defined.
Once the site is created, click the [Test URL] button in DW Site Definition, and you should now get
[The URL Prefix test was successful]