Annoying error message prevents me from re-opening projects in Premiere CC 2014

This is the error message I get every time I re-open an old project in Adobe Premeire:
'This project contained a sequence that could not be opened. No sequence
preview preset file or codec could be associated with this sequence type.'
I'm on a Creative Cloud team membership (at Conde Nast). This started happening when I upgraded from Premiere Pro CC to the newer 2014 version.
I can start a project, start work on it, but when I close it and try to re-open, the message above appears.
I can work around it by starting a new project and importing the timeline from the original project, but the second project has the same issue when I re-open
that, so I'll have about 10 versions of each project I'm working on which is ridiculous!
I've google this problem a few times and have noticed quite a few other users experiencing the same problem.
I've also tried the work around where you change the code in a text editor for each project, but that becomes really tedious also.
Can anyone tell me if Adobe has fixed this yet????
And if not, WHY NOT???
Kris

Hi,
Which Operating System are you working on?
We need to move the SLStore and SLCcahce to the desktop.
For Windows: C: Program Files*86: Common Files: Adobe: SLCache
C: Program Data: Adobe : SLStore
Thank You
Arjun

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