Also see this answer, which solved the same problem for me.
Posted by Luis Mack on 5/12/2010 at 8:50 AM I've found the same problem, only for a specific project when compiling on a 64-bit machine. A fix that SEEMS to work is to manually alter one character in the image stream EVERY TIME the usercontrol or form is edited in the designer
AAEAAAD/////AQAAAAAAAAAMAgAAAFdTeXN0ZW0uV2luZG93cy5Gb3JtcywgVmVyc2lvbj00LjAuMC4w
Change to
AAEAAAD/////AQAAAAAAAAAMAgAAAFdTeXN0ZW0uV2luZG93cy5Gb3JtcywgVmVyc2lvbj0yLjAuMC4w
That is 00LjAuMC4w back to 0yLjAuMC4w at the end of the line (00 back to 0y)