You're going to have to take a step back. I'm not clear on what's happening. Exactly what are you trying to do? Are you having problems with the HQ Agent in general or are you having problems contacting a network device or something over SNMP?
2006-11-15 17:35:38,547 ERROR [CommandListener] Failed handling new connection org.hyperic.hq.agent.AgentConnectionException: Client from /127.0.0.1 unauthorized
Looks like it's from the agent.log and is saying that the HQ Agent is rejecting an unauthorized connection. This would happen if an HQ Server that this agent is not configured to communicate with tries to contact the agent.
The configuration has not been set for this resource due to : Invalid configuration: Error contacting resource: Unable to connect to SNMP Agent (127.0.0.1:161 v2c,public)
Looks like it's from the HQ GUI and appears to be a problem setting up an SNMP resource.
These are two different problems. Please explain exactly what you are trying to do and exactly what behavior you're seeing.