Preview is green and all rendered files are green

Hello, I just installed Vegas 11 on a new pc. I vegas 11 installed on a laptop but have never had any issues/problems. Anyway, when i load video clips to the the timeline they appear fine, but the preview window is green. I tried rendering a small test clip to see if it would affect the video and it did, the rendered video was green as well. Any idea what could be wrong?