We are testing Inventor 2012 and Vault 2012 for deployment and ran into a potential problem with a migration. I'm not sure if thie is a Vault problem, but I thought I'd start here.
I used task scheduler to migrate an assembly into the new version. Everything seems to migrate OK, but I have errors on some or all of my library parts. At some point the log says that it can't find the library part at C:\Work\Content Center filesrts\****. In fact they are located at V:\Work|Library parts\****. Then later in the log file they seem to be migrated and Inventor looks in the correct location. The "rts" after Content Center files, makes me think this is an incorrect field somewhere, but the Vault project and application options are set to the correct location. (content center is located on V: as well.
Thanks for reporting this issue. I am able to reproduce the issue. As you said the problem is only with the wrong information in the log and not with the migration of the files. Files are getting migrated and checked in fine. Let me know if that is not the case with you.
I have forwarded this issue related to incorrect information to Development team to take a look.