anyone has any idea?
1st, go to the CS5 Benchmark http://ppbm5.com/ and view the results... an i5 computer is not "a pretty powerful rig" especially for DSLR video
Also, Iphone won't easily edit http://forums.adobe.com/thread/881246
-and a fix http://forums.adobe.com/thread/934466
How many hard drives do you have... and do you have AT LEAST two separate hard drives?
Read http://blogs.adobe.com/premiereprotraining/2011/02/red-yellow-and-green-render-bars.html to help understand rendering
I believe it's only the analysis that occurs in the background. You actually need to render the sequence, which is initiated manually by hitting Enter, for them to turn green.