Quote: "I was able to resolve the issue by setting both projects to compile with the same runtime libraries, and clear out the ignored libraries completely."
If those projects are dependent (say one is a static or dynamic library and the second one is executable using the first one), you should definitely make both compile with the same configuration regarding "code generation" (especially if you don't know much about these settings).
If those projects are independent (separate executables), their configurations may vary. A configuration of one of them doesn't affect the other one. Finally, they are independent, right?
Quote: "On the right side find the text entry area for "Ignore Specific Library" and clear the field."
By clearing this field, m0ng00se obtained the "already defined" linker errors. This is why it is important to exclude particular libraries from linking.
General rule says - don't touch it if you don't know what it does, because you can screw things up and even if it seems working now, it can catch you later. You can find a lot of reading about the runtime libraries on MSDN.