I think I solved my problem…
I initially installed plug-in with FCP running…
So what I did was go and find the CanonE1 plugin –
library>app support>proapps> and deleted the MIO folder.
Quit FCP, then reinstalled…then just finished a test with the same file I had been having problems with and now have a 12 minute clip.
Hope that helps you as well…let me know, I’d be interested in finding out if that solves your problem.
-Jason