Andrew,
The message that you got, given VS 2005 was installed, usually means that it was installed in the folder other then default location suggested by installer. If you changed the destination folder then this behavior is expected and the workaround is described
here. However, if you have installed VS 2005 in its default location and yet you got this message, it probably means VS installation was not successful.
Please let us know if this has helped.
Best regards,
UltiDev Team.
Please donate at
http://www.ultidev.com/products/Donate.aspx to help us improve our products.