I'm able to watch about 5 seconds of footage before vegas freezes and I get this error thing:

Description:
A problem caused this program to stop interacting with Windows.

Problem signature:
Problem Event Name: AppHangB1
Application Name: vegas120.exe
Application Version: 12.0.0.770
Application Timestamp: 528d33e2
Hang Signature: 88d6
Hang Type: 257
OS Version: 6.1.7601.2.1.0.256.48
Locale ID: 1033
Additional Hang Signature 1: 88d626c45bf1dea5b242250b836ca06d
Additional Hang Signature 2: feaf
Additional Hang Signature 3: feaf632dfaa1bce1681d3d6d3b032226
Additional Hang Signature 4: 975b
Additional Hang Signature 5: 975b5fd15a159a4d32037df1fb727158
Additional Hang Signature 6: 3e57
Additional Hang Signature 7: 3e5739ccedad2c724f838ef960f9228a