Hans Vredevoort has posted a very important note for you to read. Please go over to Hyper-v.nu to read why you should not install this update on WS2012 clusters nodes/members.
EDIT#1:
Microsoft has released (via Windows Update) KB2803748 to repair this issue.
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Holy hell, this killed my entire day yesterday!!! I’ve actually just refinished reformatting both the servers in my cluster because I couldn’t figure out how to fix this. At least I know I’m not crazy…
@jake, hope it wasn’t your production environment.
Crazy that MS didn’t make this simple test step in pre patch testing.