The solution I found was to install the following extension.
Extension Manager -> Online Gallery
Search for: "Web Standards Update for Microsoft Visual Studio 2010 SP1"This information I found on the social MSDN site here.
Extension Manager -> Online Gallery
Search for: "Web Standards Update for Microsoft Visual Studio 2010 SP1"<Import Project="$(MSBuildExtensionsPath)\WebProfileBuilder\WebProfileBuilder.targets" />
<pages>
<controls>
<add tagPrefix="asp" namespace="System.Web.UI"
assembly="System.Web.Extensions, Version=1.0.61025.0, Culture=neutral, PublicKeyToken=31bf3856ad364e35" />
</controls>
</pages>
devenv /log
<entry>
<record>208</record>
<time>2012/01/17 15:06:00.310</time>
<type>Information</type>
<source>VisualStudio</source>
<description>Begin package load [Visual Studio Class Designer Package]</description>
<guid>{DD1683A7-5A4C-4234-81B3-A4CC91DBEAC9}</guid>
</entry>
<entry>
<record>209</record>
<time>2012/01/17 15:06:00.412</time>
<type>Error</type>
<source>VisualStudio</source>
<description>SetSite failed for package [Visual Studio Class Designer Package]</description>
<guid>{DD1683A7-5A4C-4234-81B3-A4CC91DBEAC9}</guid>
<hr>8000ffff - E_UNEXPECTED</hr>
<errorinfo>Catastrophic failure (Exception from HRESULT: 0x8000FFFF (E_UNEXPECTED))</errorinfo>
</entry>
<entry>
<record>210</record>
<time>2012/01/17 15:06:00.415</time>
<type>Error</type>
<source>VisualStudio</source>
<description>End package load [Visual Studio Class Designer Package]</description>
<guid>{DD1683A7-5A4C-4234-81B3-A4CC91DBEAC9}</guid>
<hr>8000ffff - E_UNEXPECTED</hr>
<errorinfo>Catastrophic failure (Exception from HRESULT: 0x8000FFFF (E_UNEXPECTED))</errorinfo>
</entry>
Now start Visual Studio with devenv /ResetSettings
Set MSBuildEmitSolution = 1
msbuild solutionname.slnHKEY_CURRENT_USER\Software\Microsoft\VisualStudio\9.0\vsmacros\OtherProjects7\0
HKEY_CURRENT_USER\Software\Microsoft\VisualStudio\9.0\vsmacros\RecordingProject7
Dim proc2 As EnvDTE80.Process2 = dbg2.GetProcesses(trans, compName).Item("w3wp.exe")
proc2.Attach2(dbgeng)For Each proc2 As EnvDTE80.Process2 In dbg2.GetProcesses(trans, compName)
If proc2.Name.Contains("w3wp.exe") Then
proc2.Attach2(dbgeng)
End If
Next

HKEY_CURRENT_USER\Software\Microsoft\VisualStudio\9.0\DebuggerDisableAttachSecurityWarning attribute value to 1.
.NET Runtime version 2.0.50727.4016 - Fatal Execution Engine Error (72336028) (80131506)ngen /delete *
The name 'xxxx' does not exist in the current context.Dim compName As String = WindowsIdentity.GetCurrent().Name
compName = compName.Substring(0, compName.IndexOf("\"))
Dim compName As String = My.Computer.Name