I used the ideas from this page ("Enabling Add-In functionality in ASP.NET MVC 3") in my MVC4 project and it worked better than anything else I tried. The trouble is with the views in the extension. Yes you can "copy if newer" the views to the proper place so that they can be read by the extension hosting app but (I think) you have to give up the ability to pass the data model to the cshtml file since the view is then considered part of the hosting app which does not have the extensions model (error: "The type or namespace name '[Type]' could not be found").
Is there a way to pull the models in as well as the controllers?