Well I found the solution to this problem. I selected Debug> Full Compile and it pointed out my programming error with ended up being a undeclared variable.
Next time when you get an unspecified error with Project Development Wizard, just press CTRL+F5 ( run with full compile ) and it will take you straight to the error.
Taken from:
http://www.vbforums.com/showthread.php?t=425165
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