Thank you for contacting Telerik Support.
Please confirm the presence of a VS 2012 plugin component of Test Studio on your machine by once again running the (2012.2.1527) installer -> Next -> select 'Change' -> compare 'Visual Studio 2012' component to attached image. If it is not installed (red X), please add it and continue the installation process. If the option is not present at all, then cancel and launch VS to confirm whether your installation of VS 2012 meets the necessary requirements
(note that only Ultimate, Premium, and Professional editions allow extensions/plugins and are compatible)
If neither of my suggestions help, provide a screenshot of the information seen in your Help -> About Microsoft Visual Studio (in VS 2012) window.