Can you confirm that you're only receiving the build error for the NCrunch build and not a normal VS build?
If so, my first thought would be that the declaration behind this namespace is somehow not being located inside the NCrunch workspace. Check your compiler warnings to see if there is any useful information here. It may be worth taking a look at the NCrunch workspace itself (right-click the failed build, go to Advanced->Browse to workspace) and running a command-line MSBuild against the generated project file in here. You should be able to troubleshoot the snapshot inside the workspace, adding/removing files as necessary to see if you can find how NCrunch has failed to construct the workspace. Most likely there'll be a file you'll need to add to the 'Additional files to include' setting, or you may need to turn on the 'Copy referenced assemblies to workspace' setting for the project.
Ok, it's working but I have no real idea why - I changed Embed Interop Types to true, VS build failed, changed it back to false and VS and NCrunch builds both succeed.
Doing so made a slight modification to the project file
I'm glad you managed to get it to work. I can honestly say that how this change would have made the difference it did is beyond me, but the build system is so complex and pluggable that nothing is ever truly certain! Thanks for taking the time to post the solution.