Help! Updating FCP from 10.0.3 to 10.0.5-Project will not open.

So here is the deal:
I asked an intern to cut an small video for a friend.  We loaded her computer up with FCP 10.0.3.  She started the project on that.  She upgraded to 10.0.5 over the course of the summer and completed the project. She never experience any issues opening her project files.
I copied her files over to my comuter running 10.0.3. They wouldn't not open and it told me to upgrade. I upgraded both FCP and my OS System.  Now that I am running all of the latest updates, NONE of her project files will open on my FCP.  What is going on????  She is leaving for College this morning and I am stuck wtih a bunch of useless files.  Anyone know what the issue could be?
My OS is 10.7.4
FCP 10.0.5

Also, I will add, that I have not worked in FCP since version 7 and I have always hosted the files safely on my computer so there weren't any linking issues.  Please let me know if I didn't copy all of the necessary files in order for it to open as well.
I copied her working folders over to my Desktop.  And it looks like this:
Luckily she exported several versions of the video before she left.
When I click on the Project file I get this error:
Originally, when I was running 10.0.3, it informed me that I had to upgrade.  Now, it's just not able to be opened.
Am I missing some kind of ghost file that I didn't copy over from her computer?
Thank you!!!!

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