Hi to all interested in this thread,
I have had an opposite experience with TS2012 - I had RW2 which just would not work properly, but I took the opportunity to upgrade. The results included a working RW3 installation, and at that point I decided to back up my installation (all my steam stuff) to a backup HDD. Subsequently, I installed the RS version of IOW assets piecemeal - and RW3 accepted it - and I was able to install and operate IOW5 for the first time. There were minor problems with IOW5,things not showing up correctly etc, but RW3 soldiered on. This version does seem to be more stable. I would thoroughly recommend a backup strategy if you are planning to change parts of your installation, at least you will be able to get back to a previously known working state. If you attempt a fix and it does not work on RW, you are simply left with more doubt about your installation, and probably not knowing what to try next. Steam does offer a back up facility.
Actions speak louder than words, but gossip spreads fast!