.NET 4.5 focuses on improvements to the .NET framework rather than tooling. Key changes include support for asynchronous programming, performance improvements like larger arrays and faster GAC, internationalization support, and updates to core frameworks like WCF, WPF, and Workflow. It requires Windows 7 or higher and is not supported on XP or Vista. Portable Class Libraries are fully supported across .NET 4.5, Silverlight, Windows Phone and Metro style apps.