Azure VM - Visual Studio 2010 Shell - Invalid License data Reinstall is Required.

I have a Azure VM Small instance  with Sever 2008 and SQL Express 2012 installed. I also have an IIS role configured and running.

When I click on a file, that uses the VS shell, like a web.config or aspx page, an error is thrown,

 "Visual Studio 2010 Shell - Invalid License data Reinstall is Required"

I tried a repair-install of VS 2010 Shell and I also uninstalled and re-installed VS 2010 Shell Isolated. The error persists. I never had this problem on other VMs running the same configuration.

Ideas?