No, this is not so - your application has no chance of launching, because there is no .Net framework to launch it, so there is no way to show anything but the usual Windows dialog box.
One way to solve the problem is to create a boot script (executable executable file) in .Net 2.0 - this was sent to the service pack for Windows XP and has been included in every operating system ever since. This bootloader can check for the required installation of .Net framework and show a good error message if it does not exist - you can even install it for the user (we have a custom installer that works in this way and we send the .Net framework to as part of the package, so we can install them and initiate the required reboot if the user wants).
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