I noticed at some point that there is now an option to <Right-Click> on an imported table into a map from say Access or Excel and chose the Display XY Data. This looks exactly the same as the one in ArcToolBox called XY Table to Point. I would think they would be the same thing.
However, I keep getting an error when using it. It also shows that the process is the same as the one in ArcToolBox (XY Table to Point (Data Management Tools)).

The process works fine if I use the one in ArcToolBox though. So my question is, should these two be the same process and if so, why is the menu version failing, while the ArcToolBox method works fine?
Menu version on the left and ArcToolBox on the right for comparrison
