After following the guide on This page from codeplex, I'm not able to see the Python option on my tools/option window. I believe the only deviations I took from the guide are:
After a few installs/reinstalls, I still can't see it working...What could I be missing? Or should I go back to visual studio 2010?
Have you tried using the Microsoft Web Platform Installer? It bypasses a lot of the possible errors when installing the framework, checks for dependencies, etc: