The most likely culprit is out of date graphics driver (most recent version for your card is 266.58 WHQL dated 18th Jan 2011), an old QuickTime version, or insufficient disk space. Work through the following basics to see if your problem goes away. Especially note the 'Got A problem' link as that will tell you what other information you should supply including more details about your hardware (e.g. disk sizes, format, free defragmented space ...).
Install all Windows Updates.
Install latest version of Apple QuickTime (v7.6.9 at time of writing). Even if you don't use QuickTime, PRE relies heavily on it.
- Install most recent graphics and sound drivers from the manufacturers web sites.
- Install PRE9 v9.0.1 update.
- Delete BadDrivers.txt (in Windows 7 this is likely at C:\ProgramData\Adobe\Premiere Elements\9.0\BadDrivers.txt)
- Run Disk Cleanup.
- Run Defragmenter.
- Reboot your PC.
- Temporarily disable any anti-virus realtime scanning.
And give us some information about your clips and hardware:
- Use the GSpot Codec Information Utility to analyse the file and post screen image.
- What project preset did you use?
- Where did the clip come from?
- How did you get it into PRE?
- Post back here with the necessary information described here: Got a Problem? How to Get Started
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Also, can you post a screen-cap of what you are seeing?
This ARTICLE will give you tips and one workflow.
I also agree that you should update that driver. Itis probably at least 10 versions old.