Visual Studio .NEt has detected that the specified Web server is not running ASP.Net version 1.1. You will be unable to run ASP.NET Web applications or services

Solution:

Open a CMD window

change dir toC:\WINDOWS\Microsoft.NET\Framework\v1.1.4322

Run the following commands in sequence:

aspnet_regiis -i

aspnet_regiis -s W3SVC/

The first one installs and registers the ASPNET libraries [in case they arenot installed, no harm on doing it again if they are]The second assigns the .NET framework 1.1 ASPNET filters for the root website and all its descendants.