How to set .net Framework 4.5 version in IIS 7 application pool

I installed the Visual Studio 11 Beta and suddenly all the async action methods I had created under the VS 11 Developer preview started hanging (apparently this issue: http://blogs.msdn.com/b/pfxteam/archive/2012/03/03/10277166.aspx).

My app is using v4.0.30319 as the Framework Version, but there is no option to use 4.5. I repaired my .net 4.5 install to be sure, but nothing. Is there a way to configure this in IIS? Do I need to bin deploy the files (and if so which)?

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