What is wrong?
The update is busted and a MediaCore CoDec or the RED handling were not updated properly. Download the manual install package and try again. Also delete your prefs as explained here.
Thankx for your efforts Mylenium!
Update is standalone file, downloaded from Adobe website.
I'll delete pref files as well.
But on initializing MediaCore 'bump' message shows again.
Then I'm afraid you'll have to start from scratch and reinstall everything. The only other thing I can think of is duplicates of some files lingering. this would be in /Library:Application Support:Adobe and sub-folders as well of course as in AE's program folders....
Reinstall everything. .... Hard words for me, but I do it.