Sorry Experts... I found the solution elsewhere.
For your reference, here is the link to it...
http://www.visualstudiodev.com/visual-basic-express-edition/trying-to-debug-receive-requested-operation-requires-elevation-48897.shtml
This is the part that helped me...
Does you application have the words "setup", "update", "install", or any of the other key phrases that Vista uses in its heuristics to identify setup programs? If so, you don't need to run Visual Studio as an administrator. You just need to either change the name of your program or add a manifest file (which is difficult under VS 2005 editions) and mark it so that Vista UAC doesn't perform heuristics testing on it.
The name of my app had the word Update in it...
Thank to anyone that was trying to find a solution for me.
Take care!