Shutdown and restart.
I have found that using the Media Encoder instead of Premiere works so I can complete the project. One thing that might be causing the problem is that I am getting the dreaded '.dll missing' error again. I will copy it to all the revelant folders again and see how it goes.
Also make sure all of your Windows Framework 4.0 and Visual C++ Updates are done with Windows update as well. If it's the codec Dll error I am thinking off, that will happen even if the file is preset if you dont have that done.