I would like to add that IIS 8.0 GUI (and previous versions as well) cannot edit the
section (it is invisible, i.e. it appears as if no parameters can be configured) whereas
are editable with IIS 8.0.
It would have been nice if VS2012/IIS 8.0 used the same GUI configure system all the way, but the products do not seem to be synchronized in that aspect. One way or the other, you may have to edit the application settings with notepad.
The connection strings do appear in both GUIs but if using
in IIS they include full path (Namespace.Properties.Settings.ConnectionStringName).