Hi William,
Yes. You are right.
The issue is due to the VSstudio 2005 not installed in the server machine. Please install the VS2005 in the server machine.
Then follow this kb article.
http://www.syncfusion.com/support/kb/studio/Default.aspx?ToDo=view&questId=45and try running the sample and let me know if this solves your issue.
Thank you for your interest in Syncfusion products.
Thanks,
Ramu