Yes, correct we have different installers for each version of Visual Studio. If you want to use Visual Studio 2010 you would install the Visual COBOL for VS2010 product, for Visual Studio 2012 you would install the Visual COBOL for VS2012 product, etc.
If you do not have a full version of Visual Studio available when Visual COBOL is installed, Visual COBOL will install a shell version of Visual Studio and install into that.
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