This is one of those, "was working 15 minutes ago" problems. I've been running my app without a problem and then all of the sudden I'm receiving this error when trying to load the design view:
Access to the path '[my-local-path]\Application Data\Microsoft\VisualStudio\10.0\ProjectAssemblies\waswbeet01\Interop.EModelView.dll' is denied.
As far as I can tell I didn't make any significant changes to the app to trigger this. I can go to the specific file location and see the dll there and it's permissions for SYSTEM are full control.
My head hurts from banging it against my desk.