The bug is related to user settings which we don’t remove when Beta 1 is uninstalled. One particular setting under HKCU\Software\Microsoft\VisualStudio\10.0\HTML Editor\TargetFriendlyName. For Beta 2, this setting does not match the schema’s we know about. As a result, JScript intellisense will fail to load and most items will be missing in markup as well.
The minimum fix is to manually repair the TargetFriendlyName setting in the registry (change it to be just "XHTML 1.0 Transitional”) but due to the fact that more settings could be affected the recommended fix is to reset all settings after Beta 2 is installed.
To reset all settings drop down the Tools menu and select Import and Export Settings. This will bring up the Import and Export Settings Wizard as seen below. Choose the last option “Reset all settings” and click Next when ready.
From there choose whether you want to saving your settings or not and click Next again.
Finally, choose the collection of settings that best fits your development environment and click Finish when done.
Visual Studio Web Tools