Add assembly reference, but not in reference manager

I am using .NET 4.5. I want to use this library http://gendictedit.codeplex.com/ .

It says the error:

Error 1 The type "System.ComponentModel.Design.CollectionEditor" is defined in an unreferenced assembly. You must add a reference to the assembly "System.Design, Version = 2.0.0.0, Culture = neutral, PublicKeyToken = b03f5f7f11d50a3a". C: \ Users \ Sam \ Documents \ Visual Studio 2013 \ Projects \ RainingChainQuestApplication \ RainingChainQuestApplication \ Form_Npc.cs 41 37 RainingChainQuestApplication`

When I look in the link manager, there is only System.Design v4.0.0.0

.

Is there a way to use this library when using .NET 4.5? As I understand it, the library relies on .NET 2.x? It's true?