I just started using mts files. When I render clips with fast color corrector and color balance they turn fully red in playback, and I can no longer preview them, even paused. What the hell...
Jim's suggestion is also the first thing that I recommend, when there is a display issue. Even if it is not the cause, getting it out of the way first, is a good move - PrPro interfaces very heavily with the video driver.
Follow Jim's suggestion to go to the mfgr's. Web site, and do not trust your OS to tell you if you have the latest - check for yourself.
BTW - what OS are you running, and what is the make and model of your video card?