ORA-06516: PL/SQL: the Probe packages do not exist or are invalid
Cause : A Probe operation, probably an attempt to initialize the ORACLE server to debug PL/SQL, could not be completed because the Probe packages were not loaded or have become invalid.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
DBA should load the Probe packages. This can be done by running the pbload.sql script supplied with the RDBMS.
Well, the reason for above error is that i have taken the above script from a 11g database and running it on 10g database. 11g has bring some changes in password management. Below code is executed on 11g and user created successfully, which is expected result.