Glad that uninstall and re-install solved the issue. Out of curiosity, did you get the splash screen or an error or did nothing happen when you attempted to launch?
The two options in the Project Manager (Collect Files and Copy to New Location, Consolidate and Transcode) will create new files. It should not alter your original footage.
Open the RED clip in the Source monitor or select it in a Timeline Sequence, then select the Effect Controls panel. Upper left you should see Master * clip name and the Source Settings should be there.