The IIS 7 LODESTAR virtual site was never created.
Here is what I had to check:
Withing the add components - IIS - app dev - check all boxes
I am creating this blog mainly for my own purposes. I have been an Oracle Utilities Consultant (LODESTAR) for the last 6 years. The LODESTAR ASP framework is very poorly documented, so I will use this blog to save all my goodies and code snippets for later use. If anybody else is getting any use out of this, please leave a comment.