I am working on an ASP.NET MVC application on my local machine using the Visual Studio 2012 built in IISExpress. After a significant progress I decided to make it available
You should be adding a machine key that is unique to the website/machine combination. It is this machine key that the token generator uses. This means that you should generate a machine key (which you can do here (dead link-beware) and add it to your Web.config file on your machine. You can find more information here: http://msdn.microsoft.com/en-us/library/ff649308.aspx
You can also do this directly from within IIS: http://blogs.msdn.com/b/amb/archive/2012/07/31/easiest-way-to-generate-machinekey.aspx