I see a red line above your timeline... which means that your video and project do not match
See 2nd post for picture of NEW ITEM process http://forums.adobe.com/thread/872666
Thanks! I tried to search the help support docs but I could not target this specific data. You would think that a link would be present on the general timeline page. Most programs give you a screenshot of the area and then give targets to specific commands that are represented by letters or numbers with definitions and links to more detailed information. I find the adobe documentation difficult to navigate. Thank goodness for the helpful folks here.
This is exactly what I was looking for.
Have a great weekend yall.