Hi Maurice;
1) Neither PB Classic nor PN.Net 12.5.x will work with .NET 4.5! In fact, if that .Net framework version is installed it may either stop the Install/IDE, give you compile errors or crash your application EXE's. PB 12.5.x only works with .Net 4.0.
2) FYI: PB 11.5.x and 12..x will work with .Net 2.0, 3.0 or 3.5 (but not 4.0 or 4.5).
3) Yes, you must have the .Net 4.0 SDK installed for WS's under PB 12.5.x
HTH
Regards ...Chris