I've found a topic describing NullReferenceException in Windows Phone designer, however I believe this is a somewhat different issue, since it happens in all platforms and not related to MvvmCross plugins.
Designer (VS2012, Store/WP8/WPF apps) works fine for earlier versions of MvvmCross. I tried to compile a version that corresponds to 3.0.6 NuGet packages, and I can see that design-time model is loaded in all platforms.
Recent MvvmCross version causes all designer to raise NULL reference exception ("Object reference not set to an instance of an object") on all platforms.
Attempt to debug a VS instance didn't help: the call stack doesn't say much, and there is no MvvmCross code there.
The error is not related to the actual view/view model: I can remove all controls from the view, and the error is stil raised. The view model constructor code is never reached.
So it looks like there's some MvvmCross code (not from MvxView) that is unsuccessfully executed in at design-time. I wonder if this is a known issue and/or if there is a workaround to get designer work.
UPDATE. I created a GitHub issue with steps to reproduce the problem: https://github.com/slodge/MvvmCross/issues/347