Adobe Premiere Elements 7 files encountering major errors

Question

I have Adobe Premiere Elements 7 and every time I try to edit certain parts of my movie I get major errors. Here's what I've done to try to fix the problem:
gone through some of the troubleshooting tips from adobe.com
uninstalled and reinstalled PE7
did a system restore to several days ago when it was working fine
The movie I am editing is over an hour long, and has a variety of movie clips, pictures, narration, and music. When I press play it works pretty good, but when I want to move the narration around or "clear" a certain clip, it goes crazy!! Here's a few of the error boxes I've seen:
Premiere Elements Debug Event
[..\..\Src\Sequence\TrackItemTrack.cpp-480]
and also this one
[..\..\Src\VideoSegment.cpp-55]
When those come up I can only click "continue" and then it pops up again and again until finally it says that there was an error, it must close down, and it will try to save the project.
This has also come up before the file opens:
Found default catalog. Trying to open the default catalog.
And, when I did the system restore this came up when I opened PE7:
The licensing subsystem has failed catastrophically. You must reinstall or call customer support.
I have a deadline to meet with this movie, but I can't even edit it closes down on me so much! I have tried opening other PE7 movie files and edit them and they seemed to work fine from the little I did. Could it be that the file itself has something wrong with it? I have had minor problems with PE7 before but nothing as bad as this! I have my movie file saved on the computer hard drive, and two separate external hard drives. I have tried opening the file from all three places but they are all the same.
I am not a computer whiz, but If you need any more info, let me know, and please respond ASAP!!
Thanks!

Answer 1

Well, it's not working again. Here's what happened:
I opened that other file this morning, like I told you. I edited for a few hours, then I added a picture, then tried moving some clips that were grouped together, but instead of moving them it did something else (not sure what) and then it said there was an error and it had to close down (I was able to delete the picture off the timeline, just in case that was causing the problem, which I don't think it was). I was glad to have gotten so much editing in, but really disappointed it wasn't fixed completely like I'd hoped. So I opened PE7 again and it said I needed to save the file as another name. So I did that and kept editing for another few hours, with no major problems. Then, when I was moving something around again there was an error message and it closed down. At this point I was thinking "This isn't good, but hopefully it will open again and work like last time." But no, this time, the file wouldn't even OPEN!! This is the worst it's been. Those same error messages come up (PE Debug Event) and a new one too:
Microsoft Visual C ++ Runtime Library
Runtime Error
Program: ...\AdobePremiereElements7.0\AdobePremiereElements.exe
This application has requested the Runtime to terminate it in an unusual way. Please contact the application's support team for more information.
I've been having a few minor problems with Windows Vista as well, such as the scroll bar on the Internet going up and down like crazy for several seconds, and also a runtime error (similar to the one above) when I open a folder under my computer. Could it be I have a virus? I have Vipre antivirus installed on my computer so hopefully that is taking care of anything like that.
I can open a copy of the movie file I made earlier today (but I'm not sure yet if I can edit with it or not - I don't want to make a bunch of changes and lose my work!), but not the latest file I worked on that had the last problems. Here are my project presets:
(this forum won't let me copy and paste!)
General
Editing Mode: DV NTSC
Timebase: 29.97 frames/second
Video:
Frame size 720 horiz. 480 vert. 16:9
Pixel Aspect Ratio: D1/DV NTSC Widescreen 16:9 (1.2)
Fields: Lower Field First
Display format: 30 fps Drop-Frame Timecode
Audio:
Sample rate: 48000Hz
Display format: audio samples
Capture format: DV capture
Video Rendering
Maximum bit depth (not checked)
Previews:
File Format: DV NTSC
Compressor: DV NTSC
Color Depth: millions of colors
Optimize stills (checked)
The narration is a .wav file,
the pictures are .jpg
the videos are all .avi (some were conformed from .MTS to.avi with PE7 under SHARE)
By "assets, stills, video etc. on the timeline" do you mean I should tell you everything I have on the timeline in order? Or did you mean something else? I was a little confused by that (I'm a visual person and so new to this!).
Thanks so much for your help!!