In Visual C++ 2005 Express Beta 2 when I goto project options, I get a message box that says:
"Failed to create Frameworks PropertyGrid component.
Please verify that the Common Language Runtime and .NET frameworks are properly installed."
I am running Windows XP Pro with SP2. I've already tried installing VC++E 2005 B2 twice.

Visual C++ 2005 Beta 2 breaks when trying to view project options
C#2.0
I had exactly the same problem with the same error message.
The problem disappeared when I uninstall VS 2005 Beta1 and then run this program to cleanup system:
http://astebner.sts.winisp.net/Tools/vs2005_beta_cleanup_tool.zip
And look at this link:
http://lab.msdn.microsoft.com/express/uninstall/
Hope this helps.
Vadim.
Here is an additional information from Aaron Stebner:
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Aaron Stebner's WebLog provides a fix for those of us with beta one and other builds of Whidbey who get package load errors. From Aaron's site we see:< xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
The VS 2005 beta cleanup tool is an automated tool that is designed to resolve common issues seen by customers while trying to uninstall VS 2005 and .NET Framework beta 1 or Community Tech Previews (CTPs) and install VS 2005 and .NET Framework beta 2. It automates the officially published uninstall steps for Express Editions and for other versions of VS. It also automates cleanup of various files and registry keys that are known to cause problems if beta 1 or a CTP has already been uninstalled in a different order different than the uninstall steps describe.
===================quote==================================
Mike danniel
I installed vs2005 team suite beta2 and got exactly the same problem. Is it ok to run the clean-up program without uninstall beta2
Jeff Fant
AnotherDayAnotherSegFault