“SOLUTION” UPDATE:
There isn’t a real solution, but I did end up resolving the issue.
I ended up opening the original AI file and clicking save a bunch of times (out of sheer frustration)
Then I went back into AE and (still out of sheer frustration) deleted the file, command+z, to undo the delete because I’m trying anything at this point, reloaded the footage, and VOILA it just worked. I think AE can be glitchy sometimes especially when files are being updated from one program to another.
If this happens to anyone else let me know if you find a solution, or if you have any advice or tips on the matter.
JAH