This is a reopening of the thread "VS 2012 Editor: extended source-switch ignored": please notice that multiple projects in the solution are crucial to reproduce this errornous behaviour.
The VS2012 editor seems to ignore the "extended source" option of the FORTRAN-project (neither is there any global VS option for the FORTRAN-source-files): the syntax-highlightning makes everything green (i.e. commented) after the 72-column, even if I use /extend_source:132.
I just tested the extended-sourec-switch again and it seems that the problem only arises when there are multiple projects in the solution. I added a screen-shot: both IF-projects (Console2 and Lib1) have /extend_source:132 set but only "Source1.for" (from Console2) is shown correctly (just to be clear: compilation with /extend_source:132 always works, it's just the display that's wrong)