No. Visual Studio 2010 Shell is included with NetCOBOL for .NET. Only if you want features, or other development languages, that are not in the shell edition would you need to purchase Visual Studio from Microsoft. See the Visual Studio Product Line Overview.
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Code COBOL with Microsoft Visual Studio. Leverage Microsoft visual tools. Bring your COBOL into the Windows world with NetCOBOL for .Net -
Powerful and flexible COBOL compiler for either 32 or 64 bit platforms. -
NetCOBOL for Linux is a powerul, flexible COBOL compiler for the Linux platform. -
The same powerful, flexible COBOL compiler, now for the SPARC architecture.