I had the same error, to wit, “This project contained a sequence that could not be opened. No sequence preview preset file or codec could be associated with this sequence type.” in Adobe’s CS-5 Master Collection 64 bit edition of Premier.
It was a result of having installed the trial version 1st, which installs without the codecs.
The workaround is to install a new project after converting the trial version to a paid, registered version – then the new project will auto install the correct codecs and you are good to go after than.
Steven Shippee
Olympia, Washington