More information needed for someone to help... please click these links and provide the requested information
-Information FAQ http://forums.adobe.com/message/4200840
-Effective questions http://forums.adobe.com/thread/416679
-How to get help quickly http://forums.adobe.com/thread/419406
What are you editing, and does your project match your video?
Please NOTE that the PPro CS6 screen may look a bit different (I use CS5)
For CS5 and later, the easy way to insure that your video and your project match
See 2nd post for picture of NEW ITEM process http://forums.adobe.com/thread/872666
-and a FAQ on sequence setting http://forums.adobe.com/message/3804341
When your project sequence is correct, you will not see a red line over your timeline at first import, before you do anything to the video
Read Bill Hunt on a file type as WRAPPER http://forums.adobe.com/thread/440037
What is a CODEC... a Primer http://forums.adobe.com/thread/546811
What CODEC is INSIDE that file? http://forums.adobe.com/thread/440037
Report back with the codec details of your file, use the programs below... a screen shot works well to SHOW people what you are doing
Thanks for the help, John T. Smith and Jim Simon.
It turned out to be the issue with the project sequence not being set to the correct specifications. I'm not sure what exactly was incongruent between the two, but I just did that thing where I drag the video onto the "New Item" button and it corrected itself.
Sorry for the late response - it took me awhile to wade through the information, as most of it was completely alien to me. I still have to go through a lot more of it. The help is greatly appreciated.