Hey, Thanks Jeff.
Boy, you nailed that one. Yes, I did install CS5 ontop of CS4 against my better judgement. I was in the middle of an editing job and thought since I had the room I’d do an install over CS4.
I think I actually found the culprit. I’d recently installed the Neat Video plug in because some of my video was shot in low light. The plug in worked awesome but then I ran into those problems I described. After pulling the plug in out of the folder and reloading the project I got a warned about the missing plug in but everything else worked like normal again.