[Witold Jasiewicz]

regedit: \HKEY_CURRENT_USER\Software\Sony Creative Software\Vegas Pro\[Your Vegas version key]
Your version key might be 13.0, 15.0, etc. The key should have subkeys like “DXCache” and (most important) “Metrics”.
1. backup this entire “version” key by exporting it to a .reg file
2. now DELETE this entire key from registry
3. launch Vegas – it will open with default settings and Explorer window will reset to “my computer” as default location, now You can navigate to Your desired location.

4. now close Vegas and IMPORT the .reg file from #1. back to the registry to restore Your other personal settings deleted in #2.