I just tried a new project with everything updated and got this movie studio error message. Does anybody know what it is telling me or where I might find out the answer?

Sony Vegas Movie Studio 4.0
Version 4.0a (Build 48)
Exception 0xC0000005 (access violation) READ:0x3 IP:0x24003FA0
In Module 'mcmpgdec.DLL' at Address 0x24000000 + 0x3FA0
Thread: Engine_RenderFromCookedSlices ID=0x8F0 Stack=0x230B000-0x2310000
Registers:
EAX=00000006 CS=001b EIP=24003fa0 EFLGS=00010297
EBX=00000018 SS=0023 ESP=0230b620 EBP=01ec6520
ECX=00000003 DS=0023 ESI=00000003 FS=003b
EDX=060c7e48 ES=0023 EDI=c50e4200 GS=0000
Bytes at CS:EIP:
24003FA0: 0F B6 16 B9 18 00 00 00 ........
24003FA8: 29 D9 83 C3 08 D3 E2 09 ).......
Stack Dump:
0230B620: 62872100
0230B624: 00000003
0230B628: 01EC5EA4 01EB0000 + 15EA4
0230B62C: 01EC5E78 01EB0000 + 15E78
0230B630: 2400415E 24000000 + 415E (mcmpgdec.DLL)
0230B634: 01EC6520 01EB0000 + 16520
0230B638: 00000001
0230B63C: 01EC6520 01EB0000 + 16520
0230B640: 2400BF30 24000000 + BF30 (mcmpgdec.DLL)
0230B644: 01EC6520 01EB0000 + 16520
0230B648: 00000001
0230B64C: 00000000
0230B650: 00000000
0230B654: 00000000
0230B658: 00000000
0230B65C: 00000000
> 0230B690: 24006DC2 24000000 + 6DC2 (mcmpgdec.DLL)
> 0230B6B0: 24006DC2 24000000 + 6DC2 (mcmpgdec.DLL)
> 0230B6F0: 2401235A 24000000 + 1235A (mcmpgdec.DLL)
> 0230B724: 24078250 24000000 + 78250 (mcmpgdec.DLL)
> 0230B730: 2400C3A9 24000000 + C3A9 (mcmpgdec.DLL)
> 0230B750: 2400B5EB 24000000 + B5EB (mcmpgdec.DLL)
> 0230B760: 2400D8CB 24000000 + D8CB (mcmpgdec.DLL)
> 0230B780: 24009213 24000000 + 9213 (mcmpgdec.DLL)
> 0230B834: 7C91B5F4 7C900000 + 1B5F4 (ntdll.dll)
> 0230B838: 7C91B686 7C900000 + 1B686 (ntdll.dll)
> 0230BBC4: 7C911B09 7C900000 + 11B09 (ntdll.dll)
> 0230BBE0: 009BF7C6 00880000 + 13F7C6 (sfs4rw.dll)
0230BBE4: 00000005
0230BBE8: 000002D0
0230BBEC: 00000240
0230BBF0: 0000001C
> 0230BC08: 00483420 00400000 + 83420 (moviest40.exe)
0230BC0C: 00000160
0230BC10: 00000120
> 0230BC14: 7C38F990 7C340000 + 4F990 (MSVCR71.dll)
0230BC18: 02952800 028F0000 + 62800
> 0230BC20: 77F18118 77F10000 + 8118 (GDI32.dll)
> 0230BC24: 77F19F3B 77F10000 + 9F3B (GDI32.dll)
> 0230BC40: 005A21E2 00400000 + 1A21E2 (moviest40.exe)
0230BC44: 0230C0B8 02210000 + FC0B8
0230BC48: 00000004
0230BC4C: 00000002
0230BC50: 00000000
> 0230BCAC: 005BDBB3 00400000 + 1BDBB3 (moviest40.exe)
0230BCB0: 00000000
0230BCB4: 40868000
0230BCB8: 83A99E4C
0230BCBC: 3FED51AD
> 0230C0D8: 77C62440 77C10000 + 52440 (msvcrt.dll)
> 0230C0E8: 7C9105C8 7C900000 + 105C8 (ntdll.dll)
> 0230C0F4: 7C910551 7C900000 + 10551 (ntdll.dll)
> 0230C0FC: 7C91056D 7C900000 + 1056D (ntdll.dll)
> 0230C10C: 7C809BD8 7C800000 + 9BD8 (kernel32.dll)
> 0230C114: 7C801898 7C800000 + 1898 (kernel32.dll)
> 0230C118: 7C90E288 7C900000 + E288 (ntdll.dll)
> 0230C11C: 7C801875 7C800000 + 1875 (kernel32.dll)
> 0230C134: 7C91B7B7 7C900000 + 1B7B7 (ntdll.dll)
> 0230C138: 7C91B7D5 7C900000 + 1B7D5 (ntdll.dll)
> 0230C144: 7C8830E0 7C800000 + 830E0 (kernel32.dll)
> 0230C150: 77C2FB30 77C10000 + 1FB30 (msvcrt.dll)
> 0230C178: 7C9137AB 7C900000 + 137AB (ntdll.dll)
> 0230C17C: 7C9137C7 7C900000 + 137C7 (ntdll.dll)
> 0230C1B0: 240093AF 24000000 + 93AF (mcmpgdec.DLL)
> 0230C1D0: 24007D5C 24000000 + 7D5C (mcmpgdec.DLL)
> 0230C210: 2400F471 24000000 + F471 (mcmpgdec.DLL)
> 0230C228: 2400EA1D 24000000 + EA1D (mcmpgdec.DLL)
> 0230C230: 2400E3F5 24000000 + E3F5 (mcmpgdec.DLL)
> 0230C260: 059DDF6A 059D0000 + DF6A (mpegin.DLL)
0230C264: 01EC5DF0 01EB0000 + 15DF0
> 0230C27C: 7C802608 7C800000 + 2608 (kernel32.dll)
> 0230C284: 059EE039 059D0000 + 1E039 (mpegin.DLL)
- - -
0230FFF0: 00000000
0230FFF4: 004CEDC0 00400000 + CEDC0 (moviest40.exe)
0230FFF8: 00671640 00400000 + 271640 (moviest40.exe)
0230FFFC: 00000000