I have had the same error as the OP: ...\codeSHOW.jsproj : error : Error HRESULT E_FAIL has been returned from a call to a COM component.
Unfortunately that was the extent of the error - no clue as to what COM component or any other inkling.
Couldn't load the project no matter what I tried. Installed all the pre-requisites etc etc but not one bit of the project would load.
However... I've just found out that it turns out to be the source code control stuff. I had installed a SCC add-in for Mercurial and it was set as my default SCC provider. Setting the SCC provider to None in 'Tools | Options' allowed the project to
load fine (setting it to TFS, presumably would have worked too).
Maybe that will help anyone who encounters this issue as I guess it could happen in other projects too.