Did this happen before you applied the Premiere Pro CS5 (5.0.3) update? What graphics card do you have?
Try uninstalling and reinstalling Premiere Pro, and not installing the updates. Now try the problematic operation in Premiere Pro CS5 (5.0.0). Does the crash occur then?
It happened after the update. I make a habbit of updating as soon as I install software to make sure I'm up to date. So I dont think I really used it much at all before updating. I'll try uninstalling and reinstalling when I can...
my graphics cards are
ATI Radeon HD 5770
NVIDIA Quadro FX4800
I have the same problem. Crazy annoying. Mac Pro. CS5.0.3 Happened before I updated as well. Working with ProRes422 and HQ clips. I've actually changed my editing habits to work around this crash bug but every now and then I forget. I am not alone. Two other coworkers have the same problem.
2 x 2.66 GHz Quad-Core
ATI Radeon HD 5870 (had earlier version of card before - same problem)
What's going on!?
Have you upgraded to the latest OS X 10.6.7? Some ATI video card problems were fixed.