I experienced this problem in VS2010 before, and solved it looking at this SO question. However, now that I upgraded my VS to SP1, it appeared again. I tried to solve it the same way, enabling C++ projects logging and using DebugView. But I can't get to see any output in DebugView, no matter what I do. I also tried raising the Build output verbosity (Tools->Options->Projects and Solutions->Build And Run), but couldn't find any clue.
As in the original problem, the projects reported as out of date are always unmanaged C++ projects. The solution has C#, VB.NET, C++/CLI and C++ projects. What I'm trying to run is a VB.NET exe which uses some C++ projects through C++/CLI wrappers.
Any hint on how to troubleshoot this?
UPDATE: Solved it with a clean checkout. However, it's a shame that there is no longer a way to troubleshoot this kind of errors...