Hi HomerJ,
If you just accept the message and continue on does it run on the system? If so you can, select the option ''Do Not show This Warning Again'' check box to suppress it in the future.
Unfortunately Windows Server 2012 is not an ''offically'' supported environment for the clien within your patch levelt. It is a supported environment for running the application server from but not for running the client from (as generally servers are only used to administer the application, hence the site admin should work fine) but not to actually work with the projects from.
Have you tried running the browser in compatibility mode, and adding the site to the trusted zones to see if that can get around the warning?
Have you tried to install the ALM explorer and see if it will work, although I think you may find the same thing happening.
There may be a registry hack that would allow the client to run on this system, but I would not recommend performing hacks on the application server hosting the application.
If you have the capability to apply patch 5, it adds official support for Windows Server 2012.
Hope this helps,
Thanks,
Dan