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I had this exact problem. The solution is to plugin your ShieldBase (unfortunate if you lack one) - this then runs successfully.
It seems that even though the shield base is not plugged in, the code attempts to use it and an exception occurs:
StackTrace
NetduinoGo.ShieldBase::.ctor
System.Reflection.ConstructorInfo::Invoke
GoBus.GoBusManager::GetShieldBase
System.Reflection.MethodBase::Invoke
Microsoft.SPOT.Hardware.OutputPort::.ctor
NetduinoGoApplication1.Program::Main
