Path Not Found error when opening VB6 project from shared folder on Virtual PC 2007 (XP sp3)

I am currently working on a small software development team that mainly maintains legacy software. I am trying to set up a VirtualPC that we can use for this service. Specifically, I would like to be able to debug and run VB6 web applications from a folder on the PC host. My limitations are as follows:

• VirtualPC will not be registered with the domain.
• The server that hosts our Subversion repository does not start the subversion service, so the only way to interact with the repository is "file: \\", which requires domain authentication.
• Unable to debug / run VB6 web applications located on mapped network drives because IIS requires VirtualPC to be in the same domain as the network drive
• I wish I didn't have to copy the folder from the host computer to VirtualPC and then copy it to have the latest version from Subversion

So I'm trying to use the VirtualPC Shared Folders feature to share the host machine's Subversion directory and open a project in VB6 on VirtualPC. The problem is Visual Basic throws an error: "Path not found:" \\ C: \\ Subversion \ Path \ Project.vbp "when I try to open it. The C: \ Subversion folder on the host is mapped to G: on VirtualPC If anyone can help me resolve this error or find another way to do it, I would be deeply grateful.

Oh, both host and virtual OS are Windows XP sp3. Using VB 6.0, IIS v5.1.

I can freely manipulate files in a shared directory with VirtualPC i.e. copy, paste, delete, etc.

Edit:

Screenshot link: http://img190.imageshack.us/img190/5439/vpcscreen.png