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The first step should be to update your audio and video drivers. As most people have their Windows update set to automatic (default), it's not uncommon for an update to "break" drivers, that worked fine just before.
Next, thell us about your system and your OS.
When something works one day, but not the next, then something has changed. You task would be to find out what has changed and try to rectify those changes - that's where the drivers come in. Might not be that simple, but it's a good first step.
Last, before an uninstall/reinstall, I'd do a Repair Install from the DVD. If something has been compromised in your installation, then a Repair Insatll might take care of this.
Read this thread to completion:
It seems that others have encountered this situation and were not happy with their options.
There is a solution suggested, but I did not see a definitive reply on what (if anything) actually worked.
At this point in time your dead in the water with this Project, so make a back-up copy, and you might want to try what's suggested...
From your link, it appears that Bob and Robert had some workable suggestions for this.
Do you have the PE 3.02 upgrade? While this was primarily for Vista support, it might also have some additional fixes.