Can you add Entity Framework Power Tools through the extension manager? Then in the class library you can right-click and "Engineer Reverse Code First". This will bring up your database and create everything you need (no need for EDMX and TT files). You will need to install EF 4.1 or add the EntityFramework NuGet package to your project before starting the reverse engineer.
I do not have VS 11 installed here, so I can’t check if the tools will be installed (I’m also not sure that these functions are turned over to 11), but it will work fine anyway in 2010, as I often use it.
Richard
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