We have been seeing some issues with the update on Macs with ATI Radeon cards.
Please submit a detailed bug report including your system information so that we can use this information to isolate the problem and get a better sense of what systems are affected.
In the meantime, rolling back to a version before the update may be your best bet.
Thanks for the quick reply, Todd. I have submitted a bug report. Is there documentation available online on how to rollback to the previous version? Thanks again.
> Is there documentation available online on how to rollback to the previous version?
Uninstall Premiere Pro. Then reinstall, without applying updates.
That seems to have "solved" the problem. No more issues with Effects or playback. I reinstalled PP and installed updates to 5.0.2 immediately after this post. I have not had any issues since, but have not upgraded to 5.0.3 either. When 5.0.4 comes out, I will test to see if the problem still exists and report back. Thanks!