Apologies, but this is seriously affecting my project and I'm really counting on someone here to help me out.
I find only one reference to your specific element (in CS4):
I don't think that helps.
The speculation there was it could be a corrupt project. sometimes corrupt projects can be helped by importing into a new project.
What is the last thing you did before you saw the error?
So the project has been lagging for quite a while (because when I render my CGI footage, its under Blackmagic Intensity 8-bit HD), and because I can't get the sound working when using a Blackmagic custom preset, I use HDV 720 30 preset.
Now, what I did was copy and paste motion from one title to another, and then suddenly this debug error comes up.