Another tool to try is Depends.exe and tell it to profile your game. It'll then list all the DLLs loaded (Which tree of which DLLs loaded them).
Here is the output on mine:
Interestingly you can see that D3D11.dll tries to dynamically load D3D11SDKLayers.dll twice. The first time it tries to load if from my games directory, and fails (See the yellow circle with a question mark in it). The second time it loads it successfully from the SysWOW64 directory.
Try this with your app and see whether D3D11.dll is even trying to load the layers DLL and if it is where is it looking and failing.