Scenario
This is the distillation of the problem we are having...
Problem
We would like the ProjX reference to be a project reference in SolutionOne, but an assembly reference in SolutionTwo
How can this be done, since ProjA.csproj is the same file referenced by both solutions?
I've never done this before but this sounds like a conditional build. You'd need to define new solution configurations - instead of Debug/Release, you'd call them ProjRef and AsmRef. SolutionOne would build using ProjRef and SolutionTwo would build using AsmRef. Then, you'd modify your vbproj/csproj and tag the reference with the Condition.
Take a look at this article: