When you say "opened with Visual C++", did you open it from a Softimage Command Prompt? I just checked and only if you do, VC++ seems to be able to successfully convert that specific project. Generally, starting from a Softimage Command Prompt (with its built-in call to setenv.bat) is a good idea as it sets all the environment variables VC++ needs to decipher the project Softimage generated...
"Open a Softimage Command Prompt & type vcexpress" works for me.
But I'm no expert... (no really, I am no expert!