Hi ByronM
Loaded your project into VP 7.12 Beta. AS noted previously (above) it was pretty well useless as far as previewing.
The images all loaded OK from the cache (as I had opened the .vpj file before) but I noticed something at the end of the loading process which I have never noticed in the past and that was the indication that VP was LoadingTrack Clips. Never seen this..Is it something specific to 7.12 ? Is it related to the cache having been previously filled??

Once all was loaded it was evident that the green bar was mostly absent even after a long delay and it didn't fill (actually never fills) in a logical way. Clips are green barred all over the place seemingly at random, probably due to the way the work is threaded. I would have thought they would complete from start to finish but this jumpy progress has always been the case and makes it difficult to see if the loading has stuck particularly where there are lots of clips.
On playing, the preview was broken repeatedly and jerky as noted in my other post making watching it a painful experience and moving the red cursor line to check areas of the timeline was so slow and delayed as to be unusable. Whereas some of this may have been due to my old, slow Vista machine chugging along at 100% usage, I am not so sure.
Nevertheless I decided to export your project as mp4 H264 1920 x 1080 (despite the actual state of play in VP.) Quite a delay between clicking Export video and the appearance of the Export screen but it eventually arrived
The exported mp4 was fine and played in VLC with no problems at all.🙂
At this point going back and reviewing your project in the un-closed VP GUI , All the clips now had green bars and it played from the preview screen OK . However I noted that here (at least) moving the red cursor line manually to a different point in the timeline did not change the preview image to reflect the new cursor position and clicking the screen played the project from the previous stopping point whilst the cursor line carried on from the new position! (i.e. the project played from a point not related to the cursor line. Ah well!
Nat