Since Visual Studio 2008 introduced multi-targeting .NET Framework, one weird thing of VB.NET projects was that to change the .NET Framework of a VB.NET application you had to go to the project properties window, “Compile” section (whose settings depend on the Configuration and Platform!), click the “Advanced Compiled Options…” and then you had a “Target framework (all configurations)” combobox. Meantime C# projects used the natural location for that combobox: the “Application” section, whose settings don’t depend on the Configuration and Platform.

VS 11 Beta finally fixes this issue for VB.NET projects and the “Target framework” combobox now belongs to the “Application” section, its natural place and much more visible.

The automation model (EnvDTE) for add-in and macros was right and the “TargetFramework” property belongs to the application (EnvDTE.Project.Properties), as shown in my article:

HOWTO: Get the target .NET Framework of a Visual Studio 2008 project from a Visual Studio add-in or macro
http://www.mztools.com/articles/2008/MZ2008015.aspx