I've been using Vegas Pro 8 for a while now, and all of a sudden the video effects just don't seem to work.

I can go throigh the entire add process, but it makes no difference on the proview screen.

I'm not doing anything complex - just trying to apply the Sony brightness and contrast.

I don't go around playing with settings either. the only unusual thing I did since last needing to apply effects was have a go at my first keyframe to create a right to left text banner.