Jason Zander is Corporate Vice President of Development for the Windows Azure team at Microsoft.
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We’ve received several reports of an issue when trying to do a Cut or Copy which gave you the following error:
"Insufficient available memory to meet the expected demands of an operation at this time, possibly due to virtual address space fragmentation. Please try again later."
There is now a patch available which you can download here. More details on the issue can be found on the Visual Studio team blog here.