1) Go to: Folder Options / View / Hidden files & folders & Uncheck: "Do not show hidden files & folders".
2) Go to: Documents & Settings / All Users / Application Data / Pinnacle Studio / Data / Render / Aux Files & Delete those.
I originally installed Studio on my C drive, then uninstalled it and reinstalled the program on an external hard drive.
Studio should be Installed on your OS Drive C: