I'm havin an issue running the version upgrade from 10.2 to 10.3.  I just downloaded and ran the lastest Service Release as well.  Here's my Version Utility Log:

10:53:29: Gathering volume and assembly information.
10:53:52: ProjectFile element: Tiffany\TiffanyV2_2.csproj is being treated as a proj file.
10:53:52: Analyzing TiffanyV2_2.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: DocManager\DocManager.csproj is being treated as a proj file.
10:53:52: Analyzing DocManager.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: EmailUtility\EmailUtility.csproj is being treated as a proj file.
10:53:52: Analyzing EmailUtility.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: Tiffany.DAL\Tiffany.DAL.csproj is being treated as a proj file.
10:53:52: Analyzing Tiffany.DAL.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: EventTracker\EventTracker.csproj is being treated as a proj file.
10:53:52: Analyzing EventTracker.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: TiffanyInterfaces\Tiffany.Interfaces.csproj is being treated as a proj file.
10:53:52: Analyzing Tiffany.Interfaces.csproj...
10:53:52: Nothing for us to upgrade.
10:53:52: ProjectFile element: Globals\Globals.csproj is being treated as a proj file.
10:53:52: Analyzing Globals.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: Serenity.BAL\Serenity.BAL.csproj is being treated as a proj file.
10:53:52: Analyzing Serenity.BAL.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: SerenityReports\Serenity.Reports.csproj is being treated as a proj file.
10:53:52: Analyzing Serenity.Reports.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: ResourceImages\ResourceImages.csproj is being treated as a proj file.
10:53:52: Analyzing ResourceImages.csproj...
10:53:52: Nothing for us to upgrade.
10:53:52: ProjectFile element: Serenity.Workflow\Serenity.Workflow.csproj is being treated as a proj file.
10:53:52: Analyzing Serenity.Workflow.csproj...
10:53:52: Nothing for us to upgrade.
10:53:52: ProjectFile element: Serenity.Billing\Serenity.Billing.csproj is being treated as a proj file.
10:53:52: Analyzing Serenity.Billing.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: Serenity.ProgressNotes\ProgressNotes.vbproj is being treated as a proj file.
10:53:52: Analyzing ProgressNotes.vbproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: Serenity.DAL\Serenity.DAL.csproj is being treated as a proj file.
10:53:52: Analyzing Serenity.DAL.csproj...
10:53:52: Nothing for us to upgrade.
10:53:52: ProjectFile element: LeadImaging\LeadtoolsImaging.csproj is being treated as a proj file.
10:53:52: Analyzing LeadtoolsImaging.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: Serenity.FormManager\Serenity.FormManager.csproj is being treated as a proj file.
10:53:52: Analyzing Serenity.FormManager.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: Serenity.Updates\Updates.csproj is being treated as a proj file.
10:53:52: Analyzing Updates.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: Serenity.InstallShare\Serenity.InstallShare.csproj is being treated as a proj file.
10:53:52: Analyzing Serenity.InstallShare.csproj...
10:53:52: Nothing for us to upgrade.
10:53:52: ProjectFile element: Serenity.DocumentTools\Serenity.DocumentTools.csproj is being treated as a proj file.
10:53:52: Analyzing Serenity.DocumentTools.csproj...
10:53:52: Nothing for us to upgrade.
10:53:52: ProjectFile element: MESbase\MESbase.csproj is being treated as a proj file.
10:53:52: Analyzing MESbase.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: MESbase Paul\MESBasePaul.vbproj is being treated as a proj file.
10:53:52: Analyzing MESBasePaul.vbproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: Serenity.Deploy\Serenity.Deploy.csproj is being treated as a proj file.
10:53:52: Analyzing Serenity.Deploy.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: Serenity.CustomerWebPortal\Serenity.CustomerWebPortal.csproj is being treated as a proj file.
10:53:52: Analyzing Serenity.CustomerWebPortal.csproj...
10:53:52: Nothing for us to upgrade.
10:53:52: ProjectFile element: Serenity.CustomerDB\Serenity.CustomerDB.csproj is being treated as a proj file.
10:53:52: Analyzing Serenity.CustomerDB.csproj...
10:53:52: Nothing for us to upgrade.
10:53:52: ProjectFile element: UpdateInstaller\UpdateInstaller.csproj is being treated as a proj file.
10:53:52: Analyzing UpdateInstaller.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: SchedulerV1\SchedulerV1.csproj is being treated as a proj file.
10:53:52: Analyzing SchedulerV1.csproj...
10:53:52: The following project needs to have its references updated:
10:53:52: ProjectFile element: Serenity.Charting\Serenity.Charting.csproj is being treated as a proj file.
10:53:52: Analyzing Serenity.Charting.csproj...
10:53:52: The following project needs to have its references updated:
10:54:13: Upgrading Solution TiffanyV2_2.sln
10:54:13: Updating TiffanyV2_2.csproj...
10:54:13: C:\Users\tprice\Desktop\LiveSource\TiffanyV2_2\Tiffany\TiffanyV2_2.csproj has been backed up.
10:54:13: Updating Infragistics2.Win.v10.3 to new reference Infragistics2.Win.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.v10.3 to new reference Infragistics2.Win.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinTree.v10.3 to new reference Infragistics2.Win.UltraWinTree.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinToolbars.v10.3 to new reference Infragistics2.Win.UltraWinToolbars.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinTabControl.v10.3 to new reference Infragistics2.Win.UltraWinTabControl.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinTabbedMdi.v10.3 to new reference Infragistics2.Win.UltraWinTabbedMdi.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinStatusBar.v10.3 to new reference Infragistics2.Win.UltraWinStatusBar.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinSpellChecker.v10.3 to new reference Infragistics2.Win.UltraWinSpellChecker.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinSchedule.v10.3 to new reference Infragistics2.Win.UltraWinSchedule.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinPrintPreviewDialog.v10.3 to new reference Infragistics2.Win.UltraWinPrintPreviewDialog.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinMaskedEdit.v10.3 to new reference Infragistics2.Win.UltraWinMaskedEdit.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinListView.v10.3 to new reference Infragistics2.Win.UltraWinListView.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinListBar.v10.3 to new reference Infragistics2.Win.UltraWinListBar.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinGrid.v10.3 to new reference Infragistics2.Win.UltraWinGrid.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinGrid.ExcelExport.v10.3 to new reference Infragistics2.Win.UltraWinGrid.ExcelExport.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinGrid.DocumentExport.v10.3 to new reference Infragistics2.Win.UltraWinGrid.DocumentExport.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinGauge.v10.3 to new reference Infragistics2.Win.UltraWinGauge.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinGanttView.v10.3 to new reference Infragistics2.Win.UltraWinGanttView.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinExplorerBar.v10.3 to new reference Infragistics2.Win.UltraWinExplorerBar.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinEditors.v10.3 to new reference Infragistics2.Win.UltraWinEditors.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinDock.v10.3 to new reference Infragistics2.Win.UltraWinDock.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinDataSource.v10.3 to new reference Infragistics2.Win.UltraWinDataSource.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinChart.v10.3 to new reference Infragistics2.Win.UltraWinChart.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.UltraWinCalcManager.v10.3 to new reference Infragistics2.Win.UltraWinCalcManager.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.SupportDialogs.v10.3 to new reference Infragistics2.Win.SupportDialogs.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.Misc.v10.3 to new reference Infragistics2.Win.Misc.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.AppStylistSupport.v10.3 to new reference Infragistics2.Win.AppStylistSupport.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Shared.v10.3 to new reference Infragistics2.Shared.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Excel.v10.3 to new reference Infragistics2.Excel.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Documents.v10.3 to new reference Infragistics2.Documents.v10.3.
10:54:13:
10:54:13: C:\Users\tprice\Desktop\LiveSource\TiffanyV2_2\Tiffany\Properties\licenses.licx has been backed up.
10:54:13: Done
10:54:13: Updating DocManager.csproj...
10:54:13: C:\Users\tprice\Desktop\LiveSource\TiffanyV2_2\DocManager\DocManager.csproj has been backed up.
10:54:13: Updating Infragistics2.Documents.v10.2 to new reference Infragistics2.Documents.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Excel.v10.2 to new reference Infragistics2.Excel.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Shared.v10.2 to new reference Infragistics2.Shared.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.AppStylistSupport.v10.2 to new reference Infragistics2.Win.AppStylistSupport.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.Misc.v10.2 to new reference Infragistics2.Win.Misc.v10.3.
10:54:13:
10:54:13: Updating Infragistics2.Win.SupportDialogs.v10.2 to new reference Infragistics2.Win.SupportDialogs.v10.3.
10:54:13:
10:54:13: No matching assembly located in available assemblies Infragistics2.Win.UltraChart.v10.2.Design
10:54:13:    at Infragistics.VersionUtilitySupport.Core.ProductAssemblies.AssemblyList.AssemblyNameChange(String assemblyName, Int32 versionLocation, XmlNamespaceManager xmlNamespaceManager, String& assemblyNameNoVersion, Boolean ignoreErrors)
   at Infragistics.VersionUtilitySupport.Core.ProductAssemblies.AssemblyList.FindNewAssemblyNode(String assemblyName)
   at Infragistics.VersionUtilitySupport.Core.File.Types.ProjectFile.Upgrade(String rootDirectory)

Any ideas?