Mr. Anderson Cassimiro's answer provided me with some great clues on how to resolve the issue for my offline install which was caused by Certificate Validation Errors.
SUMMARY:
Basically, I had to get a copy of the latest Certificate Revocation Lists and install them on my offline system:
http://crl.microsoft.com/pki/crl/products/MicCodSigPCA_08-31-2010.crl
http://www.microsoft.com/pkiops/crl/MicCodSigPCA2011_2011-07-08.crl
http://crl.microsoft.com/pki/crl/products/MicrosoftTimeStampPCA.crl
http://crl.microsoft.com/pki/crl/products/MicTimStaPCA_2010-07-01.crl
http://crl.microsoft.com/pki/crl/products/CSPCA.crl
http://crl.microsoft.com/pki/crl/products/tspca.crl
http://crl.comodoca.com/COMODOCodeSigningCA2.crl
http://crl.comodoca.com/COMODORSACodeSigningCA.crl
http://crl.usertrust.com/UTN-USERFirst-Object.crl
http://crl.microsoft.com/pki/crl/products/MicCodSigPCA_2010-07-06.crl
http://ts-crl.ws.symantec.com/tss-ca-g2.crl
There were two packages that I couldn't get the certificate to validate regardless of CRLs installed:
sqlcmdlnutils_amd64\SqlCmdLnUtils.msi
DotFuscator
You can install these after installing VS 2012 by going directly to the packages folders for these tools and installing them.
CRLs are probably good for 24 hours or whatever your CRL cache timeout is set to. So, if you need to install on a different system a few days later, you will have to download and install the latest CRLs on the other system.
I wrote out the longer troubleshooting steps I took below.
Symptoms: Visual Studio installer indicates that it failed to install one or more packages and asks that you specify the location of the package executable. You specify the location in packages directory of the installation media, but it prompts you again.
STEP 1: Determining if it is a certificate issue
You can right click on the Visual Studio executable and Click Properties. Under the Digital Signatures tab, select one of the signatures and click Details.
Under Digital Signature information, if it doesn't say "This digital signature is OK." Then, it's probably a signature issue.
Also, you can check in your c:\Users[username]\AppData\Local\Temp directory for a file called dd_vs_professiona_[Timestamp].log, and note that there are certificate validation errors in the log.
STEP 2: Fixing the Certificate Issues
a. If the error indicates the certificate is not trusted:
Ensure that all the certificates from the digital signature are trusted.
1) Launch the Certificates MMC for your local computer by:
-Open command prompt as admin and type mmc and enter.
-File -> Add Remove SnapIn
-Select Certificates and click add
-Select Computer Account and click Next.
-Select Local Computer and click Finish.
2) Go back to the Visual Studio executable dialogs.
Click on the Visual Studio executable and Click Properties. Under the Digital Signatures tab, select one of the signatures and click Details.
Click View Certificate. Click the Certification Path Tab.
3) If there is a certificate that is not trusted in the certificate path, click it, and View Certificate. Click Details and Click Copy to File. Save the certificate to a location you can find easily.
4) Go back to the Certificates MMC. Navigate to Trusted Root Certificates. Right Click -> All Tasks -> Import
5) Import the certificate you just saved to file.
You must do this for all certificates in the certificate path.
b. If the error indicates it is unable to validate the CRL.
Click on the Visual Studio executable and Click Properties. Under the Digital Signatures tab, select one of the signatures and click Details.
1. Click View Certificate
2. Under Details Tab -> Click CRL Distribution Points
3. Download the crl from the URL specified in the CRL Distribution Points.
4. Copy the file to your offline system.
5. Right click on it and Click Install CRL, Next, Next, Finish.
See the summary section above for a list of CRLs I had to download.
c. If the error indicates "One of the countersignatures is not valid. The file may have been altered.", then:
Click on the Visual Studio executable and Click Properties.
Click Digital Signatures. Click on a signature and click Details.
- Instead of clicking View Certificate of the Digital signature, click on the Timestamp under the Counter Signatures section.
-Click Details, then click View Certificate for the time stamp cert
-Click CRL Distribution Points in the Details tab
-Download the timestamp crl.
-Copy it to your offline system and right click the crl file and install crl, Next, Next, Finish.
See the summary section above for a list of CRLs I had to download.