WPF Project right click "Add New Item" add WPF Custom Control cause VS to throw Unspecified Error HRESULT 0x80004005 (E_FAIL)

I created a new WPF Application.

I created a Project folder called "MyTestControl"

I right click on this folder and select "Add" > "New Item"

I choose a WPF Custom Control, give it the name MyCustomControl.cs and click "Add"

Visual Studio throws an error "Unspecified Error HRESULT 0x80004005 (E_FAIL)"

The cs file is added but the Themes folder and Generic.xaml are not created.

Has anyone else come across this issue?   I am using VS Professional 2012 with Update 3.

ltheONEl