What version of After Effects? Include the minor version number (e.g., After Effects CS5.5 with the 10.5.1 update).
CS4 and CS5 (not 5.5)
Have you installed the recent updates? (If not, you should. They fix a lot of problems.)
Installing now
What operating system? This should include specific minor version numbers, like “Mac OSX v10.6.8”—not just “Mac”.
OSX 10.6.7
What kind(s) of source footage? When telling about your source footage, tell us about the codecs, not just the container types. For example, “H.264 in a .mov container”, not just “QuickTime”.
Apple ProRes 1080p footage (Proxy)
If you are getting error message(s), what is the full text of the error message(s)?
No error message, just hangs.
***UPDATE***
Every time I untick Memory and Multiprocessing, I get the same hang. How can I disable this?