I managed to create a Model First DBContext model (before it was a normal ObjectContext derived model).
Strangly now my VS is not showing ANY of my classes in the Mo
Building / rebuilding did not work for me. I had to close and reopen the solution, and then the class finally appeared.
Possibly related: Add View Model class dropdown not showing my class
I was looking for a solution to this when adding a controller, but reached the mentioned post earlier than reaching this one. Removing AssemblyInfo.cs and setting the properties on the project worked for me (for VS2010).