Using visual studio 2012 on windows 8 x64 aparantly this is caused by msbuild being moved into .net but I havn\'t seen how to fix it yet.
4>C:\\Program Fi
To add up to Louis answer:
Alternatively you can use the attribute ToolVersion="12.0" if you are using Visual Studio 2013 instead of using the ToolPath Attribute. Details visit http://msdn.microsoft.com/en-us/library/dd647548.aspx
ToolVersion="12.0"
ToolPath
So you are not forced to use absolute path.