Just came across this issue in my own projects, and I found this:
/awd/forums/questions/3405405#r3405406
I find it very hard to understand why the new state-of-the-art version 9 BPM product would be based on a version of .NET that is over 7 years old. Is there any work-around? I would like to reference some custom assemblies that I've build on .NET 4.0.