Vault versions prior to 3.0 are not supported under ASP.Net 2.0 / .Net 2.0 Framework. Upgrading from .NET framework 1.1 to 2.0 can cause your Vault tree to become unusable and SourceGear will be unable to repair it.
Vault relies on some components of the .Net Framework to construct your source tree. Due to these compatibility issues, a source tree saved in the .Net 1.1 Framework is modified incorrectly under the .Net 2.0 Framework if you have Vault 2.0.6 or earlier.
See this post for additional details:
http://support.sourcegear.com/viewtopic.php?t=1653
Upgrade to .NET Framework 2.0 could ruin your Vault database
Moderator: SourceGear
Upgrade to .NET Framework 2.0 could ruin your Vault database
Linda Bauer
SourceGear
Technical Support Manager
SourceGear
Technical Support Manager