I finally got Umbraco 7.0.0 working on GoDaddy.  Here are the key observations and things I did:

(1)  GoDaddy DOES support .Net 4.5 and Full Trust  (Note that it shows as .Net 4.0 but that included .Net 4.5) on WIndows erver 2012 machines administered by the Plesk Control Plannel.  For more info see http://support.godaddy.com/help/article/8851?locale=en&ci=46061 ;

(2) For .Net 4.5 go to Visit My Account (Plesk) /  Web Hosting / Launch / Then at center bottom of box around the domain name in question click on obscure little drop down arrow / ASP.Net Settings / Change Version / Confirm that 4.0.30319.17929 (or greater) is selected

(3) For Full Trust to Visit My Account (Plesk) /  Web Hosting / Launch / Then at center bottom of box around the domain name in questions click on obscure little drop down arrow / ASP.Net Settings / Code Access Security / CAS trust level / Select Full / OK

(4) Copy installation files to your hosting folder using Filezilla or similar then Set permsission on all the files in Plesk File Manager using little obscure drop down arrow to right of file or directory name.  Set permissions as follows for Plest IIS Anonymous Account and Plesk IIS Worker Process Identity Account.  Also in each case CLEAR Allow inheritible permissions from the parent and SET Replace permission entries on all child objects.

App_Data   Modify

App_Plugins Modify

bin Modify

Config Modify

css Modify

data   Modify

Install Modify

macroScripts Modify

masterpages Modify

media Modify

scripts Modify

Umbraco Modify

Umbraco_Client Modify

xslt Modify

web.config Modify

Views Modify

usercontrols Modify

 

App_Browsers Read Execute

App_Code   Read Execute

 

(5)    To avoid “Validation of viewstate MAC failed”  error make these changes to web.config

    <!--  ================================>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  -->
    <!--  Next line modified by Terry Clancy Nov 23 2013 -->
    <!--  To avoid “Validation of viewstate MAC failed”  error and as per recommendation at  -->
    <!--  http://our.umbraco.org/forum/core/general/6722-Validation-of-viewstate-MAC-failed -->
    <!--  Original Version  -->
    <!--  <pages enableEventValidation="false">  -->
    <!--  Altered Version  -->
    <pages validateRequest="false" enableEventValidation="false" viewStateEncryptionMode="Never">
    <!--  <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<================================  -->

also make this change:

    <!--  ================================>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  -->
    <!--  Next lines modified by Terry Clancy Nov 29 2013  -->
    <!-- To avoid “Validation of viewstate MAC failed”  error  -->
    <!-- Go to http://aspnetresources.com/tools/machineKey and create a new unique machine key  -->
    <!-- Position inside <system.web> and after <pages> ........  </pages>    -->
    <!--  Original Version  -->
    <!--  NONE  -->
    <!--  Altered Version  -->
<machineKey validationKey="10659C7651FF6D1966D4A9800BD154F48CBF801C7FF38EB33E2332C1B8A7673FA861603FEB516366E39269CA4993F427E8F8E914F74639594F3883057CE0C38D" decryptionKey="5B65EE6184FB8A8450221F573FADB3EFE760DDF5643A8A7F5830E672B266306F" validation="SHA1" decryption="AES" /> 
    <!--  <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<================================  -->

 

(6)To avoid installation hanging at Connecting to database ....  5%  

    
    <!--  ================================>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  -->
    <!--  Next lines modified by Terry Clancy Nov 23 2013 -->
    <!-- To avoid installation hanging at Connecting to database ....  5%  -->
    <!-- Position immediately after </system.web>  -->
    <!-- add  -->

        <connectionStrings>
  <add name="umbracoDbDSN" connectionString="server=184.168.47.15;database=DBName;user id=DBUser;password=Password" 

providerName="System.Data.SqlClient" />
        </connectionStrings>

    <!--  <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<================================  -->

   

 

I hope this helps !!

 

Terry Clancy