Views:

Problem Scenario:  You are trying to configure CRM 2011 On Premise with SharePoint online.  You have installed the required List Component.  After entering the SharePoint URL you get a message stating that the URL is valid, but the List Component is not installed.

Cause:  CRM needs authentication to SharePoint.

Solution:  If you do not have single sign on working, you have to make sure you are logged into SharePoint Online first and then you can configure the List Component.

MSDN Blog