I just upgraded to windows 8 from windows 7. Visual studio 2010 broke down completely. Oh well. I removed vs2012 and installed visual studio 2012, where the pain starts. I h
The trace of this issue leads to Windows Imaging Component (one solution proposed was to remove FastPictureViewer, which codec affects WIC, but it was not my case). I used procmon to log all file and registry calls and found that VS2012 stumbles at the following key:
HKLM\SOFTWARE\Classes\.png - REG_SZ Content Type
I was suprized to see that Content Type for .png was set application (for .jpg it was application as well). After correcting it to image/png, not only VS2012 started successfully, but VS2010 as well, that was showing "Provide value on System.Windows.Baml2006.TypeConverterMarkupExtension threw an exception" on Win8 and caused me to try VS2012.