Here are words from MSBuild Developer from Microsoft.
The trigger for the error is that the GenerateResource task must be run during the build in such a way that we embed FileTracker (a tool we have been using for up-to-date check) in the process itself — when targeting 4.0, when targeting 3.5 on a 32-bit machine, or when targeting 3.5 on a 64-bit machine when running 64-bit MSBuild.
To work around the error, you can either set TrackFileAccess=false, as has already been observed, or if you’re on a 64-bit machine and targeting 3.5 exclusively, the error should also go away if you start using 32-bit MSBuild instead.
TrackFileAccess=false works around the error by turning off the use of FileTracker; the downside is that that means the you will no longer be able to use FileTracker-based up-to-date check, so your VS 2010 C++ projects and your GenerateResource task invocations will now always build, even when there have been no changes — the latter generally causing a cascading rebuild for the managed compilers as well, since they consume the .resources files.
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