Whew, I’m glad it’s a bug. I just had this issue happen last night where my project went from 49mb to 8GB! I hit save and went to bed and saw the 8gb premiere project this morning.
Hope fix comes out soon because I cant re-import the old – rebuilding my folder structure would take me hours and hours
I got the 8gb file back to 47mb by going to my scratch disks and deleting all previews. Upon opening the project premiere crashed, saved a recovery version and then that recovery version was back to 47mb and worked correctly.