Hi Karma,
no, I don't think you need to reinstall the complete community builder component.
I think the problem is within your filter options (Those are the options you defined when you made your user lists). The error occurs in the omprofiler.html.php, because tis file is trying to run a the wrong sql argument of the filter options. Try the following:
1. login into to the joomla backend
2. Select the community builder component
3. select the list management
4. select the last list you made before the error occurred (If this won't work, try step 5 with the rest of your lists, too)
5. delete the filter options and make them again (sorry for my bad english)
Of course, there is still the possibility that I'm completely wrong. But I hope this will help you fixing your problems
Good luck!