Hi Dan,
I have tried the same. But it doesn't seem to be working. I have the same problem as you pointed out.

Saravanan

I delete the content of licenses.licx but continue de error

09:34:40: Gathering volume and assembly information.

09:34:57: ProjectFile element: Sicov\Sicov.vbproj is being treated as a proj file.

09:34:57: Analyzing Sicov.vbproj...

09:34:57: The following project needs to have its references updated: 

09:35:00: ProjectFile element: Cuentas x Pagar\Cuentas x Pagar.vbproj is being treated as a proj file.

09:35:00: Analyzing Cuentas x Pagar.vbproj...

09:35:00: The following project needs to have its references updated: 

09:35:00: ProjectFile element: ReportServerSicov\ReportServerSicov.rptproj is being treated as a proj file.

09:35:00: Analyzing ReportServerSicov.rptproj...

09:35:00: Nothing for us to upgrade.

09:35:00: ProjectFile element: ReportesCliente\ReportesCliente.vbproj is being treated as a proj file.

09:35:00: Analyzing ReportesCliente.vbproj...

09:35:00: The following project needs to have its references updated: 

09:35:00: ProjectFile element: smo\VS\SMODemos\SMODemos.csproj is being treated as a proj file.

09:35:00: Analyzing SMODemos.csproj...

09:35:00: Nothing for us to upgrade.

09:35:00: ProjectFile element: Instalador\Instalador.vdproj is being treated as a proj file.

09:35:00: The project file C:\Users\Erick\Desktop\SuCasa 2010\Instalador\Instalador.vdproj doesn't appear to be in Xml or is malformed.

09:35:03: Upgrading Solution Sicov.sln

09:35:03: Updating Sicov.vbproj...

09:35:03: C:\Users\Erick\Desktop\SuCasa 2010\Sicov\Sicov.vbproj has been backed up.

09:35:03: Updating Infragistics2.Shared.v10.3 to new reference Infragistics2.Shared.v11.1.

09:35:03: 

09:35:03: Updating Infragistics2.Win.AppStylistSupport.v10.3 to new reference Infragistics2.Win.AppStylistSupport.v11.1.

09:35:03: 

09:35:03: Updating Infragistics2.Win.Misc.v10.3 to new reference Infragistics2.Win.Misc.v11.1.

09:35:03: 

09:35:03: Updating Infragistics2.Win.SupportDialogs.v10.3 to new reference Infragistics2.Win.SupportDialogs.v11.1.

09:35:03: 

09:35:03: No matching assembly located in available assemblies Infragistics2.Win.UltraGauge.v10.3.Design

09:35:03:    at Infragistics.VersionUtilitySupport.Core.ProductAssemblies.AssemblyXmlFile.GetNewAssemblyNameBecauseOfNameChangedBetweenVolumes(String assemblyName, Int32 indexOfVolumePortionOfAssemblyName, XmlNamespaceManager xmlNamespaceManager, Boolean ignoreErrors)

   at Infragistics.VersionUtilitySupport.Core.ProductAssemblies.AssemblyXmlFile.LocateNewAssembliesNodeforCurrentAssembly(String assemblyName)

   at Infragistics.VersionUtilitySupport.Core.File.Types.ProjectFile.Upgrade(String rootDirectory)

Remove the reference to the Design assembly for Gauge. The tool doesn't handle upgrading design references as we don't recommend having Design assemblies referenced in a project.  That said older versions of Gauge as well as Chart would add references to there design assemblies.  You should be able to remove it, and upgrade without issue.

I removed the Gauge reference and Design reference, but still not working.

01:05:16: Gathering volume and assembly information.

01:05:18: ProjectFile element: Sicov\Sicov.vbproj is being treated as a proj file.

01:05:18: Analyzing Sicov.vbproj...

01:05:18: The following project needs to have its references updated: 

01:05:21: ProjectFile element: Cuentas x Pagar\Cuentas x Pagar.vbproj is being treated as a proj file.

01:05:21: Analyzing Cuentas x Pagar.vbproj...

01:05:21: The following project needs to have its references updated: 

01:05:21: ProjectFile element: ReportServerSicov\ReportServerSicov.rptproj is being treated as a proj file.

01:05:21: Analyzing ReportServerSicov.rptproj...

01:05:21: Nothing for us to upgrade.

01:05:21: ProjectFile element: ReportesCliente\ReportesCliente.vbproj is being treated as a proj file.

01:05:21: Analyzing ReportesCliente.vbproj...

01:05:21: The following project needs to have its references updated: 

01:05:21: ProjectFile element: smo\VS\SMODemos\SMODemos.csproj is being treated as a proj file.

01:05:21: Analyzing SMODemos.csproj...

01:05:21: Nothing for us to upgrade.

01:05:21: ProjectFile element: Instalador\Instalador.vdproj is being treated as a proj file.

01:05:21: The project file C:\Users\Erick\Desktop\SuCasa 2010\Instalador\Instalador.vdproj doesn't appear to be in Xml or is malformed.

01:05:25: Index was out of range. Must be non-negative and less than the size of the collection.

Parameter name: index

01:05:25:    at System.ThrowHelper.ThrowArgumentOutOfRangeException()

   at Infragistics.VersionUtilitySupport.Core.ProductAssemblies.Products.KeepLatestVolumes(List`1 installedNetAdvantageProducts)

   at Infragistics.VersionUtilitySupport.Core.ProductAssemblies.Products.TrimList()

   at Infragistics.VersionUtilitySupport.Core.SourceChanger.Upgrade()

Sorry to hear that.  Are you using the Version Utility Extension in Visual Studio?  If so, try the Stand-alone Version Utility; there is a bug on x64 machines where you get this error, and we are working on fix it currently, but it's just in the Visual Studio extensions.

Thanks!!!!!

This solution working perfectly after remove the unused references