I had the same problem. From my log file I can see its breaking on the query that returns the posts.
I managed to get this working by going to “wp-includes\query.php”, and then removing the $limits variable from the query.
It seems that this is breaking on sql server.
Find this line:
$this->request = ” SELECT $found_rows $distinct $fields FROM $wpdb->posts $join WHERE 1=1 $where $groupby $orderby $limits”;
change to:
$this->request = ” SELECT $found_rows $distinct $fields FROM $wpdb->posts $join WHERE 1=1 $where $groupby $orderby”;
Let me know if this worked for you.