About a week ago, I was having problems where I had lost the ability to run scripts. I had tried uninstalls and reinstalls of both Vegas and the .net Framework with no success.
After a few more rounds of uninstall and reinstall, I completely uninstalled the Microsoft Framework package and reinstalled it. Problem solved. Not sure why a repair of this software or a reinstall over top of itself didn't work but now it does so I won't question it.

Mike