Opened it up in Quicktime and scanned through the files and they all work fine! All of the clips are locatable and all play with out an issue in Quicktime X and 7. Looking within the Cmd+J at the resources tab in QT7 they all only reference the file that they are.
Really rather stumped on this one. Google hasn’t saved me this time! Neither has CC’s search which is an even rarer feat!!