I had a similar experience just tonight. I was going to post a query before calling it a day, and saw this post.
In my case, I’m editing the first “real” project on the new machine-DP2.3, Tiger, FCP5.02. I was literally putting in the last effect, a fade from color, onto a Psd that was on the top layer of my sequence. Upon applying the filter, I got the orange screen of death telling me to close and reopen this window to restore. I closed the canvas window, as instructed, and when I attempted to open my sequence I was met my an “Operation not allowed” screen followed by an “Out of memory” screen. Even after rebooting the computer, it refused to open that sequence. I restored from the last version in the AS vault, rebuilt the last series of edits and all was well. After saving the project, I again attemped to reproduce the problem. I added the fade to color transition to the top, Psd layer again and BAM! the exact same crash. It does it everytime.
I never thought I’d say that I miss the stability of my old G4 and FCP4.5.
Actually, that thing almost NEVER crashed. Very stable
FCP 5 and the new G5 is still a little too buggy for my taste.
But is IS faster! Guess it’s a trade off.
Calling it a night…
Tom