Hello Greg Brondo,
This is a known issue. Our enhancer is always generating .NET 4.0 assemblies if it is started in the default way. We are currently working on a fix for that.
The workaround is to use the post build event to start the enhancer:
"c:\programs files\telerik\openaccess orm\sdk\venhance.exe" "-assembly:$(TargetPath)"
Please replace the path and set the event to 'when the build updates the project output'.
You can also use the OpenAccess targets file. Additional information can be found here
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