The project type is not supported by this installation
The problem you're having is that your project using Asp.Net MVC4 but you've only installed 2 and 3. If you install Asp.Net MVC4 it should allow you to open the project.
The way to tell that this is the problem is by examining the GUIDs which are associated with the ProjectType
entry in the project file. In this example they are
{fae04ec0-301f-11d3-bf4b-00c04f79efbc}
: C# project{349c5851-65df-11da-9384-00065b846f21}
: Web Application{E3E379DF-F4C6-4180-9B81-6769533ABE47}
: Asp.Net MVC 4
Both C# and Web Application come standard with Visual Studio Pro and above hence the missing piece must be Asp.Net MVC 4
I also had this problem and I found my answer here:
http://social.msdn.microsoft.com/Forums/en-US/06cf7bca-982c-44cf-aec9-99cf399b3000/the-project-type-is-not-supported-by-this-installation
In short:
open
Visual Studio Command Prompt
run "
devenv /setup
" from the command line
Also, you must have MVC3 or 4 or whatever is required before you run this command.