[Andrew Klubertanz]

Not sure if you have found the solution, but in case anyone else is looking here’s how I fixed it.

The issue is with the project settings for the video renderer, in my case I was migrating projects from a machine that did not have CUDA support to one that did. I wasn’t able to change the setting with the ‘blacked out’ project file, so instead the project file was imported into a new one and before opening any sequences changed: File -> Project Settings -> General and under “Video Rendering and Playback” selecting “Mercury Playback Engine Software Only” then I was able to open the sequences without everything blacking out, after I changed the renderer back to CUDA support.

Hope this helps!