@ADolff:That's really strange... it seems your .NET v4 application is trying to call NGen for .NET v2 to optimize the code for running on your machine.

Try disable the "Microsoft .NET Framework NGEN v2.0.50727_X86" service and leave only "Microsoft .NET Framework NGEN v4.0.30319_X86" as "Automatic(Delayed Start)" and then see if it can resolve your issue.