Open your original project on the first computer and go to file >collect files
it will save your project and create a copy with all the sources files inside a folder. Now copy the entire folder structure to your new computer and it will find all the sources.
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Make sure the second computer has Quicktime installed, since GIF handling relies on a Quicktime importer.
Hmmm. I did both procedures. Collect files. Move the newly created folders over to the other computer. Install the current free version of quicktime 7. Then I booted the AEP, but the GIFs are still proxies and once again AE tells me it can't parse the GIF files. Is it possible that AE 5.5 is not recognizing the new quicktime install?
Yes it's possible that AE 5.5 doesn't handle correctly Quicktime 7.x because a lot of legacy stuff has been dropped since the Quicktime 7.0