Hi kijac,
You should post this to the SmartClient SF forums on codeplex where team members for that factory hang around and should be able to better guide you through its specifics.
From the stack trace you posted I can tell a few things: 1) it looks like ViewTemplateReference reference is using helper methods that are throwing exceptions (for some reasons) and this is not allowed in GAX, why it started throwing now is something that SCSF team members should help you realize; 2) if you don't have the "c:\dev" path it may be the case that you're using PDB with symbols compiled on somebody else machine.
thanks,
-Victor.