I installed the latest BETA release of VS 11 from the Visual Studio website. It was a clean installation. I created a new MVC 4 empty project. When I right-clicked the controllers folder and chose to add a new controller called "HomeController" (not a strongly typed controller), the following exception was thrown by Visual Studio:
C:\Program Files (x86)\Microsoft Visual Studio 11.0\Common7\IDE\ItemTemplates\CSharp\Web\MVC4\CodeTemplates\AddController\Controller.tt(-1,-1) : error : There was a problem getting an AppDomain to run the transformation from the host. The process cannot continue.