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Green Slug Problem Resolved
I finally figured out what was causing the green slug and black in my timelines. After trying a number of things like trashing my prefs, I found two files in the constant frames folder which is located in your render files folder that were not the normal quicktime files, once I deleted these files the green went away and has not come back. I would try this as deleting the prefs is not a permant fix for this problem.