As soon as I drop a MP4 clip from my Exacti on the time line I get the error below. This used to work fine.

Sony Vegas 7.0
Version 7.0d (Build 192)
Exception 0xC0000005 (access violation) READ:0xC IP:0xC5F9BD7
In Module 'QuickTime.qts' at Address 0xC590000 + 0x69BD7
Thread: VideoCache ID=0x140 Stack=0x39CF000-0x39D0000
Registers:
EAX=0000000c CS=001b EIP=0c5f9bd7 EFLGS=00010206
EBX=04ddd5f8 SS=0023 ESP=039cf978 EBP=039cf980
ECX=00000000 DS=0023 ESI=039cf9f4 FS=003b
EDX=00000014 ES=0023 EDI=039cf99c GS=0000
Bytes at CS:EIP:
0C5F9BD7: 8B 00 0B C0 75 05 E8 8E ....u...
0C5F9BDF: 6B FE FF 89 45 FC 8B 75 k...E..u
Stack Dump:
039CF978: 039CF9F4 038D0000 + FF9F4
039CF97C: 00000000
039CF980: 039CF9D8 038D0000 + FF9D8
039CF984: 0C65D65F 0C590000 + CD65F (QuickTime.qts)
039CF988: 039CF9F8 038D0000 + FF9F8
039CF98C: 039CF9FC 038D0000 + FF9FC
039CF990: 039CFA04 038D0000 + FFA04
039CF994: 039CFA08 038D0000 + FFA08
039CF998: 039CFA0C 038D0000 + FFA0C
039CF99C: 04DDD548 04B00000 + 2DD548
039CF9A0: 039CFA44 038D0000 + FFA44
039CF9A4: 04DDD5F8 04B00000 + 2DD5F8
039CF9A8: 039CFA08 038D0000 + FFA08
039CF9AC: 7C80261A 7C800000 + 261A (kernel32.dll)
039CF9B0: 00000014
039CF9B4: 0C6F0FE0 0C590000 + 160FE0 (QuickTime.qts)
> 039CF9CC: 0C64CB90 0C590000 + BCB90 (QuickTime.qts)
> 039CF9D0: 0D06C198 0C590000 + ADC198 (QuickTime.qts)
039CF9D4: FFFFFFFF
039CF9D8: 00000000
> 039CF9DC: 34F36C8E 34EA0000 + 96C8E (qt7plug.dll)
039CF9E0: 039CF9F8 038D0000 + FF9F8
> 039CF9F4: 34EB6F3C 34EA0000 + 16F3C (qt7plug.dll)
> 039CFA18: 34EB6BDB 34EA0000 + 16BDB (qt7plug.dll)
> 039CFA4C: 006A65C4 00400000 + 2A65C4 (vegas70.exe)
039CFA50: 00000000
039CFA54: 00000000
039CFA58: 00000000
039CFA5C: 039CFA90 038D0000 + FFA90
> 039CFAA0: 3973EB14 396A0000 + 9EB14 (vegas70k.dll)
> 039CFAEC: 028A0316 02840000 + 60316 (DirectIO.dll)
- - -
039CFFF0: 00000000
039CFFF4: 0058C3E0 00400000 + 18C3E0 (vegas70.exe)
039CFFF8: 00A844CC 00400000 + 6844CC (vegas70.exe)
039CFFFC: 00000000