Binding Failure was detected

Hello Dennis,
Please process your application via the ProjectConverter tool (Start Menu\Programs\Developer Express v2010 vol 1\Components\Tools), delete the Bin and Obj subdirectory of your project and rebuild it. If the problem persists, try the recommendations from the BindingFailure was detected in DevExpress.XtraPrinting.v7.1 thread. If it does not help either, please provide us with a sample project, demonstrating the problem in action. Then we'll try to find the immediate cause of the problem.
Thanks,
Alessandro.

I did what you said, and it did not solve the problem. I decided to remove/re-add the reference to DevExpress products. The error I gave above went away, but another came in it's place asking about DevExpress.Xpf.Core.v10.1 instead of DevExpress.XtraPrinting.v10.1.
As I looked through the references list, I noticed that DevExpress.Xpf.core.v10.1 says (version-0.0.0.0) and (Path - <The system cannot find the reference specified>
I will try removing and re-install DevExpress.
Dennis

I uninstalled and re-installed Developer Express. The problem persists. I verified that the refernced dll file is in the same folder as all the other references. That is, I checked my hard drive to see that the file "DevExpress.Xpf.Core.v10.1.dll" is indeed in the "C:\Program Files (x86)\DevExpress 2010.1\Components\Sources\DevExpress.DLL" folder. Unfortunately, my project's references still say (version - 0.0.0.0) and (Path - <The system cannot find the reference specified>) regarding the DevExpress.Xpf.Core.v10.1 reference.
Any help would be appreciated.
Thank you,
Dennis

Just to be clearn, here is the current error. It happens whenever I try to export a report. And this problem does not just happen in debug mode anymore.
BindingFailure was detected
Message: The assembly with display name 'DevExpress.Xpf.Core.v10.1' failed to load in the 'Load' binding context of the AppDomain with ID 1. The cause of the failure was: System.BadImageFormatException: Could not load file or assembly 'DevExpress.Xpf.Core.v10.1' or one of its dependencies. This assembly is built by a runtime newer than the currently loaded runtime and cannot be loaded.
File name: 'DevExpress.Xpf.Core.v10.1'
=== Pre-bind state information ===
LOG: User = IRONWOOD\DennisM
LOG: DisplayName = DevExpress.Xpf.Core.v10.1
 (Partial)
LOG: Appbase = file:///C:/School/School/bin/Debug/
LOG: Initial PrivatePath = NULL
Calling assembly : System, Version=2.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089.
===
LOG: This bind starts in default load context.
LOG: Using application configuration file: C:\School\School\bin\Debug\Presentation.vshost.exe.config
LOG: Using machine configuration file from C:\Windows\Microsoft.NET\Framework64\v2.0.50727\config\machine.config.
LOG: Policy not being applied to reference at this time (private, custom, partial, or location-based assembly bind).
LOG: Attempting download of new URL file:///C:/School/School/bin/Debug/DevExpress.Xpf.Core.v10.1.DLL.
ERR: Failed to complete setup of assembly (hr = 0x8013101b). Probing terminated.
Thanks,
Dennis

Sorry for so many posts…
I removed all references to DevExpress.Xpf.Core.v10.1 and the problem went away.
Sorry for the trouble. Thank you for the help. I'll re-open this if I have more problems later on.
Dennis

Dennis,
Please let me know what value is returned in your project when executing the following code:

C#
string CLRVersion = System.Runtime.InteropServices.RuntimeEnvironment.GetSystemVersion();  

NOTE: Prior to running this code go to the Project > Properties > Debug tab in the VS and disable "Enable the Visual Studio hosting process" option (see the attached screenshot).
Thanks,
Alessandro.

hmmm… the problem did happen again.
I ran the following code (VB)
Dim CLRVersion As String = System.Runtime.InteropServices.RuntimeEnvironment.GetSystemVersion()
CLRVersion = Version v2.0.50727