I can reproduce it easily:
1. Open VS
2. Build one of my two websites in this solution
3. Browse to the application in IE, get runtime compilation lock error
Then, after closing the mutex handle held by devenv.exe:
1. Refresh browser, use app
2. Build website in VS, get mutex or compilation lock error
From here I close the mutex handle held by aspnet_wp.exe
This behavior is consistent. Would you like to see my solution file offline? I'd be happy to give you whatever info would be helpful.