Autodesk 2012 products were released in 2011 and the Microsoft Visual C++ 2010 x86/x64 Redistributable version at the time was 10.0.30319.
If your computer had the component installed previously, Microsoft Windows update would have auto-magically updated it to 10.0.40219.
The problem is the Design Review 2012 installation framework is looking for 10.0.30319 or older and when it sees 10.0.40219, the install will fail. This also happens with Autodesk Takeoff which is in the Building Design Suite Ultimate.
The only solution is to uninstall Microsoft Visual C++ 2010 x86/x64 Redistributable 10.0.40219 before installing Design Review 2012. Design Review 2012 will function with either version of the distributable so you can run an Windows Update afterward installing it.
Thanks to Johan Stadler for sharing this solution/tip with the community.