Just finished phone and remote session with Matrox support rep. (Joe). Very patient and helpful and figured out the issue. It has to do with AUDIO OUTPUT settings in PP pref. Visit this link to get the whole sequence.
It appears that the MXO2 when working with Premier CS5.5 on Mac Snow Leopard cannot handle multi clip editing too well. Despite my attempts to make it easy on the MX02 and Premier, by importing only Pro Res 422 LT files ..1920 x 1080 29.97, the resultant multi cam display of three tracks plus the time line is distorted initially and then becomes frozen.
A check of my permissions indicates real havoc. They must be run and corrected and my machine rebooted before I can do anything more with Premier.
Premier itself runs fine on my machine and does multi clip just fine too, but not when in a Matrox timeline.
Is this a problem with drives….and drive speed? My raid drive indicates a speed of about 120 Mbyts/sec. Maybe the MOX2 mini only works with raid drives capable of at least 250 Mbyts/sec
But maybe not, since things seem to work so much better in FCP 7.03
Maybe all the Adobe hoopla is really only for Windows users and not Mac users.
And, I really don’t think upgrading my OS is the answer at this point.