After upgrading from Broadcom Advanced Control Suite 3 (BACS 3) to Broadcom Advanced Control Suite 4 (BACS 4) -or- installing Broadcom Adcanced Control Suite 4, you are unable to create a new NIC team. The Teams menu is grayed out, even though the BASP driver is installed.
Windows 2008 R2
Do not try to launch BACS from the system tray - an issue crept up in BACS 4 (but not in BACS 3) where User Account Control causes issues. Instead go into your control panel, right click on Broadcom Control Suite 4, and click 'Run As Administrator'. Once in, choose 'Team View' from the filter drop-down and you'll be good to go.