If in these days of Easter is he has given you to open Visual Studio 11, you have surely found with an available update.
If you have activated the automatic updates in Visual Studio 11, also you can access it through the Extension Manager.
Well, because a you see downloaded the file (are almost 17 MB), you have to launch it. Obviously the recommendation is with Visual Studio 11 closed. In the case that you do not want to close the IDE, because you will have to restart Windows.
Now with Windows 8 this is not a problem, since the full restart takes little more than 10 seconds
The complete list of Fixes can be seen in this link, although I was expecting the support especially for Intellitrace Web.
You know, now that you have returned to work, then restart the IDE
Saludos @ Home