When you use Visual SourceSafe Automation to access the VSSVersion.VSSItem property for a branched file in Microsoft Visual SourceSafe 2005, you receive the following COM exception error message:
File or project not found
This problem may occur if the parent project for the branched file has been destroyed in the Visual SourceSafe 2005 database. When this problem occurs, the item history will report a rollback in Visual SourceSafe Explorer.
Microsoft has confirmed that this is a problem in the Microsoft products that are listed in the "Applies to" section.