To make vs2012 work (and it being so onerous demanding that project references exist in the sln file:
http://industriousone.com/topic/visual-studio-2012-project-references), I need to change how the libs in /Dependencies are built.
From now on, you need to:
cd Dependencies
..\premake vs20xx
<open and build Premake\Dependencies.sln, which puts .lib files in Dependencies/Bin/...>
cd ..
premake vs20xx
<open and build Premake\Tools.sln,Runtime.sln>
So basically Dependencies becomes a microcosm of the Helium premake setup, and you need to run premake twice, once for Dependencies, and once for the rest of the Helium projects.
Cheers,