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PP 4.0.1 Updated - now m2ts file format not valid

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Hi

I have been running PP 4.0.1 but having problems with crashes and took advice to download the 4.2.1 update. Result is in all projects the m2ts (AVCHD) file are no longer recognised and will not import either for the same reason. I have tried re-loading 3rd party Panasonic codecs to no avail. I am running windows 7-  64 bit, intel cora quad Q6600 2.4 ghz with 5gb ram . Have searched through most of the posts but not found any thing to cover this. Any advice welcome. Dfman


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