I have Sony Vegas Movie Studio Platinum 9 and I get the same crash when I try to edit an M2TS file from the HD-PVR.
I installed the 30-day trial of Sony Vegas Movie Studio HD and got the same result.
I then installed the 30-day trial of Sony Vegas Pro 9.0c and that app performed beautifully. It played the clip easily and rendered out to M2TS, MP4, and I even tried XDCAM – looked great.
I sent a product suggestion to Sony, asking them to add support for the HD-PVR in Platinum (I can’t afford Pro).
Please do the same if you get the same results.
BTW, Pinnacle Ultimate 12 can handle the file, but IMHO it’s not nearly as nice an NLE as Vegas.