Show us a screenshot of what you're seeing, including Project panel, Composition panel, and Timeline panel.
But the Sequence and Timeline comes up totally blank!
Do I smell a hint of DynamicLink? If so, this could be perfectly normal due to the considerable changes in theat between versions. Also things simply coming up blank could indicate MediaCore issues with footage being not readable or conform files being missing or flakey...
Your screen shot shows a Premiere project and not and After Effects project. I bet you'd get a better overall response by posting in the Premiere forum.
If it's indeed an AE problem, I recommend a screen shot of the AE Project.
Is my face red... thought I'd hit the Premiere forums link. Duh. I am so fired.
Oh, no problem. It's just that you'd probably be better off in a different forum.
Okay. Well, this scenario is happening for me in After Effects CS 5.5 when I attempt to open on an ".aep" from CS 3.
The text in the pop-up window is:
All I end up with is an EMPTY untitled project workspace. All of the files/media from CS3 are in a single folder where I open the ".aep" file with AE CS 5.5