I have actually sorted out this problem temporarily but perhaps someone has better idea what could have happen and what to do.
Yesterday I wanted to do some editing and MC 5.5.2 gave me message that my graphic codec has changed and I should get one recommended by avid. I found the right one for my nvidia quadro 4000 installed it, restarted computer and turned on AVID.
When I wanted to add my own texture in Marquee Texture Library I have constantly getting opening file error. Here I started to do all the possible combination on forcing marquee to accept that texture. I have even put file in the original patters folder of MC system files. Still same error. I have even renamed one of the existing patters to check if I would be able to import to library file that for sure should work - as it was already there. Again - error. So I was a bit cheeky and renamed my texture using name that texture library already have and then I was successfully able to use my texture.
This is really weird situation and was wondering if anyone experienced similar problem and perhaps someone knows how to properly fix it.
Another problem that I have also experienced is that when I have put my title from Marquee on a sequence - 1/3 of the clip in canvas window was gone. I had to close MC and open again to have it displayed right. Then when I exported sample footage to see how it would be displayed - third of the screen is distorted.
I have strong feeling that graphic driver could have something to do with it - bit it was downloaded from nvidia page itself.
I will try to install driver again but when this will not sort out problem - I am really close to just uninstall entire MC and install it back from scratch.