The OP installed the Mollom module on Drupal 7.14 with a new free Mollom account, but got an error message after entering the api keys.
It seems this was caused by timeouts contacting the Mollom servers.
A patch was suggested that increases the timeout from 3.0 seconds to 30 seconds. This patch would need rerolling against the current 7.x-2.x-dev version of the module, which stores the timeout in a different file. However, before doing this, a decision is needed as to whether this is the real solution to the problem.
It seems that the release of 7.x-2.8 has made these timeouts more frequent, and they can occur when the Mollom service is used to check for spam, and not only when the admin interface for Mollom is being used.