The CMS admin site works on the dev's instance just fine. I can see the documents within the CMS tree (Pages section of Kentico) on both the working dev's machine as well as the non-working dev's machine.
It's a local database on each dev's local SQL instance, we currently aren't using a shared database for local development, only our staging instances.
The connection strings are all setup correctly, and we verified that the non-working user can access the databases directly within SSMS with both the ASPState database as well as the Kentico database.