This is a bit of a complex bug to explain, but it's bit us on our
If you have a project with the same name as an external binary reference
(ie: a project named "log4net" and an external reference to a DLL named
"log4net"), projects with the binary reference to log4net end up
referencing the project instead.
I can confirm that this is what is happening by deleting the project
from the solution with the same name. All the references to the binary
file are red before and resolve fine afterwards.
Does this make sense?