I'm having trouble accessing a Library. I keep getting the beach ball every time I try to open it.

Question

Hi all. Very, VERY new to FCP. I've used many of your suggestions on here to help me through a lot, so thank you!
This is just one issue that I can't seem to figure out.
I was working on a project yesterday without any problems.
Today when I went to work on it, Final Cut would start up, but it would display the beach ball forever once the start up routine was finished. The project would never load.
A note, I have all current App updates installed.
(I figured maybe this particular project didn't get updated for some reason, so I tried manually updating my projects and events, but when I went to select them in my 2nd drive, they were grey and I couldn't select them.)
Another note, other projects work perfectly fine when I go to open them. It's just when I go to open this particular one, Final Cut will not work. Endless beach ball.
I tried a suggestion that one user had, and that was to open two separate windows in Finder, and move the uncooperative library package contents into a new library. That didn't work either, and now I am unable to move the library package contents back to their original library. There is a yellow "!" triangle next to the library in Final Cut, so I'm wondering if this means that the file is corrupt.
Hopefully I've given enough information on here to shed some light on my problem. Any help would be greatly appreciated.

Answer 1

If it was working on 10/1, why not open up the most recent backup library with a timestamp of that day. Unless you specified otherwise, your backup folder is in Movies in your home folder. You can double-click one to open it in FCP.
The update command actually wants a mounted drive selected.
I suggest not going into the library bundles and moving or modifying folders/files except as a last resort. It sounds like both libraries are corrupted. 
Russ