Sorry for the trouble. It seems like an issue with the GPU drivers. Please try the steps recommended in this thread: Green and Pink Video in Premiere Pro 12.0.1 (Build 69)
Let us know the status.
Great thanks! The recommeded solution in this thread worked! Seems to be a known bug.
HERE'S THE SOLUTION FROM ADOBE: You have to change the video rendering setting.
File > Project Settings > General > Video Rendering and Playback > (choose from dropdown) Mercury Playback Engine Software Only
File > Preferences > General > Video Rendering > (choose from dropdown) Mercury Playback Engine Software Only
This is a known bug in the current version and will be addressed in the next upgrade.