New pc causing "namespace of type specified in the imports doesn't contain any public member" in VB.NET

Question

I just got a new PC (Win 7) with VS 2010 (same version as my old PC). I got a VB.NET solution from source control that contains two projects. One of the projects builds fine. The other project flags every non-MS Imports statement with:

Namespace or type specified in the Imports &1 doesn't contain any public members or cannot be found. Make sure the namespace or the type is defined and contains at least one public member. Make sure the imported element name doesn't use any aliases.

The ironic thing is that the working project within the same solution references all the same DLL's. I've removed and re-added the DLL's so I know they're there, and I can expand them in Object Browser, so I know they contain public methods.

I've ran out of ideas of things to try. Can someone throw me a bone, plz?

Answer 1

I had the same problem which I fixed by changing the Project Properties->Compile->Advanced Compile Options->Target Framework value from .Net Framework 4.0 Client Profile to .Net Framework 4.0