Building a VS project from the command-line isn't always identical to building in the IDE (the Make VS.NET action ultimately invokes devenv/msbuild to actually build a VS solution or project). Check the 'Display command-line...' checkbox on the Options tab, rebuild the step, then copy and paste the msbuild/devenv command-line from the build output to a Command Prompt and run it from there, followed by echo %errorlevel% to see the exit code returned. If the same behavior occurs outside of VBP, you'll need to open a support incident with MS. Otherwise, we'll need a reproducible case to investigate further, including:
1) The info from Help | About | Install Info
2) The .bld file used to build
3) A build log file
4) A .sln file and project files (no source code files)
Note that if you're using VS 2005, building with devenv (select 'devenv' in the Override field on the Options tab) rather than msbuild will tend to perform a build that more closely resembles what the VS2005 IDE does when building.
http://www.visualbuild.com/Manual/vsnetoptionstab.htm
http://www.google.com/search?q=msbui...opy%20local%22