I've been using visual studio (currently 2013) for performance testing for a while now, but, have realized that Transaction Response Time counters are not populated. This happens on all of my tests no matter which machine I run the tests on. All other counters appear to be working correctly. I'm certain that it's something small that I'm missing, but, after doing much searching, I'm still coming up empty.
For Transaction Response Time to populate, you will need to create Transactions. Once you have your .webtest (let say after recording it via VSTS 2013), then in the webtest file you will need to group requests under transactions and after that when you run your test, you will get Transaction Response Time, Transaction Failed and all other counters related to Transaction.
Right click any request from the webtest and select 'Insert Transaction', then select a starting and a ending request for the Transaction you want to create.