FIXED!!
We had the exact same issue – losing EDIT menu when clicking the “A” for effects. What we did was start pulling folders one by one out of the APPLICATION SUPPORT / PLUG-INS folder on the Hard Drive. Finally, when we pulled the MOTION TEMPLATES, the problem immediately stopped. I don’t know if one of those files was corrupted, or what, but it tells me it is a MOTION issue.
Anyway – FIXED!