Final cut studio 2 HELP HELP HELP

I have installed final cut studio 2 on one macbook. I then got an Imac and installed final cut studio 2 there.However, the problem occur now on my Imac when Im using the exact same innstalation I get this message when I try to open my files "file`s format is too new for this version of the application"..Can someone please help me asap and tell me what to do.I got a deadline for my clips to be dealivered...... Thank you on forhand

Software Update. It's under the Apple menu at the top left of your screen.
Message was edited by: Nick Holmes

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