I posted this up in the Adobe forums, but I'm betting I'll get a faster reply from the Cow. :)
I have a Premiere timeline that up until the CS4.2 update would scrub, playback, and render AE compositions perfectly fine. Now with the update, when I open files that worked correctly in CS4.1, the AE composition does not appear in the Program view when I scub or hover the CTI over the comp. Oddly enough when I play it back in the timeline, the footage appears, and it also shows up in the Output box of the Export Settings window.
When I open up the exact same file on other machines that haven't been updated I don't have any of these issues.
So two questions for anyone out there:
1. How do I roll back my machines to PP CS4.1 until the problem is resolved?
2. Did I do anything to cause the issue that I can easily correct?
As soon as I wrote this out I had an idea: I doublechecked my framerates and my AE comp and the Premiere timelines didn't match. As soon as I interpreted the AE comp to match the timeline, the footage popped back on and everything rendered correctly. I'm surprised that an update would break something like this, but at least there's a workaround for now.