New Nvidia driver to resolve crash/quit issues in Premiere Elements 8.

Question

For Nvidia users, there is a driver update that will fix both of the following issues:
Premiere Elements 8 does not restart after closing on Windows
Frequent and inexplicable crashes with Premiere Elements 8
To resolve these issues, you should update your GPU (graphics card) driver to version 195.81 or higher by following the steps below.
1.      Identify which GPU driver you have by right clicking on the Desktop > Properties > Settings and in the Display field it will be displayed.
2.      Go to http://www.nvidia.com/Download/index.aspx?lang=en-us and download driver for your GPU card. Its size varies from 80 to 120MB depending upon the GPU card model.
3.      After the download is complete, run the driver install Installation. This should take less than 2 minutes.
There are no known issues that the latest driver update will cause.
***If the update steps shown above do not upgrade your system to version 195.81 or higher, then you may need to download the driver directly. Use the link below only if the steps above do not update your driver to 195.81 or higher. The download page for Vista and Windows 7 is located here:
http://www.nvidia.com/object/win7_winvista_32bit_195.81_beta.html
http://www.nvidia.com/object/win7_winvista_64bit_195.81_beta.html

Answer 1

I was having crashes so I installed the new driver.  Crashes are gone (so far).
However, now a piece of video media (in a pre-existing project) displays with the red "media offline" error.  The thumbnail in the media listing in PE8 is correct.
I can see the video in file manager, and it plays fine from windows media player.
If I try to import it again, I get the error "The import reported a generic error".
Win7 64bit
PE8
Help!