There is a comment about this under this answer, but I think it's important to list it here. If you want to preserve your settings, export them first because they will be lost.
From MSDN forums - since I had to hunt around far too much to find the solution to this:
- Close Visual Studio
- Start the Developer Command prompt installed with Visual Studio as an administrator.
- type 'devenv /resetuserdata' ('wdexpress /resetuserdata' for Express SKUs)
- Start Visual Studio Normally.
Worked for me