There are some framework bugs that affect all VS add-ins etc if they reference System.Core v3.5. Start by clearing out the NGen cache. "ngen update", "ngen /delete [assemblyname]" or a sweeping "ngen /delete *" usually does the trick
More details + workarounds for this (and/or similar) issues here:
http://forum.huagati.com/topic5-addin-causes-ide-to-close.aspx
http://code.msdn.microsoft.com/PowerCommands/WorkItem/View.aspx?WorkItemId=8
http://www.jetbrains.net/devnet/thread/274657
Update: finally someone from MSFT acknowledge that there is a problem: http://blogs.msdn.com/jnak/archive/2009/02/15/potential-crash-in-vs-when-using-the-mvc-rc-on-windows-azure.aspx
Update 2: An attempt at a workaround (VS2008 add-in): http://www.huagati.com/ProjectLoader/
Update 3: Microsoft has a CLR patch (KB963676) that fixes this problem. It is not available for download from microsoft.com but it can be requested through MSFT support / PSS.
Update 4: The CLR patch is now available for download from Microsoft Connect:
https://connect.microsoft.com/VisualStudio/Downloads/DownloadDetails.aspx?DownloadID=16827&wa=wsignin1.0
http://blogs.msdn.com/jnak/archive/2009/02/26/fix-available-asp-net-mvc-rc-crash-in-a-windows-azure-cloud-service-project.aspx