Thanks Kevin. I posted the same question in the Adobe forums and someone pointed me to a plugin from Red Giant software called unmult. You can’t find it through their website, but if you google unmult, you will get a link for a mac and a windows plugin. There were no instructions however… but all you have to do is add the unmult effect under the lensflare effect and viola! You also need to make sure that when you render, to select straight alpha as opposed to premultiplied.