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I am having the same issue.
I've uninstalled premiere cc, and reinstalled it, and the same thing is happening - jpgs imported into the timeline are not showing up. i've recently 'updated' premiere, photoshop & after effects and ALL of them now have bugs! what is going on?! can you please say how to fix this issue of jpgs not displaying correctly in in premiere.
thanks.
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Open the images in Photoshop and make sure they're in RGB mode, rather than CMYK.