AE CC doesn't support PSDs with video layers. This functionality has been removed due to being full of technical issues. You have to render the sequence out from PS.
Thanks for your reply Mylenium! I noticed yesterday people mentioning some issue from a few years ago but I hoped something had been sorted out since then. I hope it's not a permanent thing.
Is there any reason why the video is going into Photoshop before being used in AE? Layered PSD files import into AE with lots of options, so perhaps just change your workflow to suite? I find that compared to Premiere Pro and After Effects, Photoshop is incredibly clumsy and frustrating to use when it comes to video. In fact, the only time I ever load video into PS is when testing an answer for questions in this forum.
Mostly it's because I'm way more familiar with PS as a painting tool and some efx I can't create in AE (or it'll take me forever to figure it out). I was hoping to basically get down what's in my head with PS then bring it into AE but have the option of going back into PS if need be.
I should explain that my "day job" is painting background colour keys for animation and a traditional painter and though I'm not an animator, I hope to incorporate the skills I have with After Effects. It just seemed a more straight forward way I guess.
Thanks for asking Trevor!