Вот что нашел на Symbol DevZone:

SUMMARY
In Visual Studio 2005, sometimes when the user tries to deploy the application which includes the Symbol References from SMDK for .NET v1.3 to the device, the deployment fails with the error “referenced package not found – device connectivity component”.


MORE INFORMATION
This is a generic Microsoft error message for Visual Studio 2005. It may be caused by multiple factors which would be hard to diagnose. Three possibilities and solutions are:

1)
Potential cause: Not enough hard drive space
Solution: Delete files from hard drive to increase available storage on the disk

2)
Potential cause: Paths have not been generated correctly
Solution: Rename the folder C:\documents and settings\<user name>\Local Settings\Application Data\Microsoft\Сorecon to Сorecon.bak

3)
Potential cause: It may not work properly, if there are partitioned hard drives
Solution: Install all components on the same drive

REFERENCES
Document Location

Мне помог пункт 2

Оригинал здесь