Crucial to such questions: Why doyou think CS5 does not support jpg2000 format and why are you insisting on using that format?
I run AE 8 at work, and I have absolutely no problem with Jpeg 2000 stuff. I don't see why you would on AE 10.
And if you don't have it already, go download the latest version of Quicktime 7. Don't get Quicktime 10 or X or whatever they call it: it's a train wreck ready to happen. If you steel yourself to spend an extra 35 bucks, you can get Quicktime Pro, probably one of the most versatile little pieces of software available.
I am using photoshop cs5 and would like to take jpeg 2000 images in after effects for some further work.
Please advice some useful information.
Any help will be appreciated.