@Johnny-Slabiak Look and see if there's a preference in general settings in your version of Vegas and make sure to check the box labeled "Close media files when not the active application" ... that should at least release the Vegas file lock when you switch apps to Photoshop. Make sure you close the file in Photoshop before going back to Vegas unless it has a similar preference setting (the version I use does not). If you do these things, Vegas will reopen the file and update it's timeline when you switch back to it. Beware of opening the file in a web browser... I use Firefox and it needs to be shut down before it'll release locks on files it looks at. If Vegas cannot get access to the file because it's locked in another app, it will report that the media is not found when you switch back to it.