I installed Visual Studio 2012 and at a later date Update 2. After installing Update 2, when I load any project, I get the following error:
This worked for me -
In order to fix the issue one needs to clear the Visual Studio cache under:
%LOCALAPPDATA%\Microsoft\VisualStudio\11.0\ComponentModelCache
Thanks go to blog post SetSite failed for package [Microsoft.VisualStudio.Editor.Implementation.EditorPackage].