Repro steps:

1. Create MVC4 Web API project and add web api controller
2. Install OData package from latest myget feed: http://www.myget.org/F/aspnetwebstacknightly/
3. Apply [Queryable] to get action
4. Create unit test project
5. Add project reference to previous one and add OData package from myget feed
6. Add test code:
   

   [TestMethod]
   public void TestMethod1()
   {
       var config = new HttpConfiguration();
       config.IncludeErrorDetailPolicy = IncludeErrorDetailPolicy.Always;
       WebApiConfig.Register(config);
       var server = new HttpServer(config);
   
       HttpClient client = new HttpClient(server);
       var response = client.GetAsync("http://localhost/api/Blah").Result;
   
       Console.WriteLine(response.Content.ReadAsStringAsync().Result);
   }

7. Run it and it reports error:
   System.IO.FileLoadException occurred
   HResult=-2146234304
   Message=Could not load file or assembly 'Microsoft.Data.Edm, Version=5.0.1.0, Culture=neutral, PublicKeyToken=31bf3856ad364e35' or one of its dependencies. The located assembly's manifest definition does not match the assembly reference. (Exception from HRESULT: 0x80131040)
   Source=System.Web.Http.OData
   FileName=Microsoft.Data.Edm, Version=5.0.1.0, Culture=neutral, PublicKeyToken=31bf3856ad364e35
   FusionLog==== Pre-bind state information ===
   LOG: User = REDMOND\hongyes
   LOG: DisplayName = Microsoft.Data.Edm, Version=5.0.1.0, Culture=neutral, PublicKeyToken=31bf3856ad364e35
   (Fully-specified)
   LOG: Appbase = file:///c:/users/hongyes/documents/visual studio 2012/Projects/MvcApplication1/UnitTestProject1/bin/Debug
   LOG: Initial PrivatePath = NULL

Calling assembly : System.Web.Http.OData, Version=0.1.0.0, Culture=neutral, PublicKeyToken=31bf3856ad364e35.

LOG: This bind starts in default load context.
LOG: Using application configuration file: c:\users\hongyes\documents\visual studio 2012\Projects\MvcApplication1\UnitTestProject1\bin\Debug\UnitTestProject1.dll.config
LOG: Using host configuration file:
LOG: Using machine configuration file from C:\Windows\Microsoft.NET\Framework\v4.0.30319\config\machine.config.
LOG: Post-policy reference: Microsoft.Data.Edm, Version=5.0.1.0, Culture=neutral, PublicKeyToken=31bf3856ad364e35
LOG: Attempting download of new URL file:///c:/users/hongyes/documents/visual studio 2012/Projects/MvcApplication1/UnitTestProject1/bin/Debug/Microsoft.Data.Edm.DLL.
WRN: Comparing the assembly name resulted in the mismatch: Build Number
ERR: Failed to complete setup of assembly (hr = 0x80131040). Probing terminated.

StackTrace:

   at System.Web.Http.QueryableAttribute.OnActionExecuted(HttpActionExecutedContext actionExecutedContext)
   at System.Web.Http.Filters.ActionFilterAttribute.CallOnActionExecuted(HttpActionContext actionContext, HttpResponseMessage response, Exception exception)

InnerException: