Error while creating new project using S#arp Architecture template

I am new to S#arp-Architecture, I have S#arp version 1.5.1. Followed steps specified in http://wiki.sharparchitecture.net/VSTemplatesAndCodeGen.ashx to get S#arp-Architecture template integrated with VS2008. When I try to create new Project using S#arp Architecutre template I get following error in visual studio.

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Microsoft Visual Studio
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A problem was encountered creating the sub project 'SolutionItemsContainer'.  

C:\Documents and Settings\ashwin.chore\Local Settings\Temp\jquzbzwt.onp\Temp\SolutionItemsContainer.csproj: The tools version "4.0" is unrecognized.
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Followed by following error for each project type(.core, .data, .test, .controller) that S#arp Architecutre tries to create.

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Microsoft Visual Studio
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A problem was encountered creating the sub project 'kkkk.ApplicationServices'.  Exception occurred. (Exception from HRESULT: 0x80020009 (DISP_E_EXCEPTION))

Can you please guide what is going wrong here.

Please download the latest version from GitHub

This should fix the issue you are seeing.