I have a 1920x1080 25fps QuickTime ProRes HQ file.
When I drag it onto the new item button, the resulting sequence shows a yellow bar, even though all the settings match between the clip and the sequence.
I tried various timeline codecs & setting. Always the yellow bar.
(And Premiere 'automatically' set the timeline to "ARRI Cinema" inititally.)
Please note that many of the Sequence Presets are duplicates of one another. Doesn't matter that your preset says "ARRI" - if the specs match your footage, then that is all that matters. For example, if your clip is 1920x1080, 25fps, progressive, 1.0 pixel aspect, and so is the Sequence, it's all good. ARRI was chosen since Premiere looks down the list alphabetically and finds the first option that matches your footage. You will also find a matching sequence under AVCHD for example with all the same specs again. You don't need a "ProRes" sequence or a "Custom" sequence.
And as Mark's link notes, no need to worry about "Yellow" bars, just edit.
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