Having some fun with VS IDE
Try this out. Download Filemon. Add a filter for devexe. Open up the IDE, View Code or View Designer on a file.
There are literally hundreds of hits on this. I see lots of FILE NOT FOUND, PATH NOT FOUND. When I dig into these they appear to be mystery dlls or dlls that we file reference from the IDE and the IDE is looking in strange places for the reference.
Interesting stuff.