According to Manifest Madness, if you plan to support Windows 8.1 you should use a bit different value for this setting:
<asmv3:application>
<asmv3:windowsSettings xmlns="http://schemas.microsoft.com/SMI/2005/WindowsSettings">
<dpiAware>True/PM</dpiAware>
</asmv3:windowsSettings>
</asmv3:application>