Although I changed the Custom Tool to: PublicResXFileCodeGenerator, I don't know if it works for me.
The main problem: in my case, when I built the MVC 3 project in Visual Studio 2012, it created the "Resources" namespace for the .resx files.
As in Visual Studio 2010, this was in the namespace "App_GlobalResources".
I renamed the namespace in the designer.cs file for resource files back to "App_GlobalResources" and it worked for me.
Lakshay
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