Do you have a work area set? That's the lighter gray bar with brackets on the bottom of the time ruler. Zoom out fully (use the '\' key) and then double-click at the bottom of the time ruler to set the WAB to cover the full duration of your sequence. You can also drag the WAB in and out points to set a smaller area.
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Along with Colin's comments, something else to consider is:
Do you have a red line above your Clips? If not, then there is nothing to Render.
As a test, set the WAB (Work Area Bar) to just a portion of the Timeline, one with a red line above the Clips.
Here is a look at the WAB (from PrPro 2.0, but will be almost identical in CS5):
PS also check the Timeline Ruler area for a darker gray bar - you could have accidentally set a Timeline Out Point.
Thanks for the answers gents. Yes there is a red line above the area. I think the problem is with the line
Colin suggested. Clips in the region below that line would render. Others would not. I will try the suggestion to
enlarge it. Thanks Roman
Colin and I were talking about the same thing, the WAB (Work Area Bar). I just showed what it looks like. JoeBlowAdobe has linked to the Help section on the WAB. To change it, you just click-drag on one end (those "brackets" that I pointed out), or the other, and if you want to extend it to the entire Timeline, then Colin's instructions on using the \ (Backslash key), and the Dbl-clicking on the little "box" in the center, will expand it to the full, now visible Timeline. Then, your Timeline should Render just fine.