If this is the case, Apple reports that the cause of this problem is the presence of a non-alphanumeric character in the volume name of your hard drive. For example a "Hard Drive : 1". Remove that non-alphanumeric character from your volume name and the problem should correct.
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Sonicfire Pro 5.8 with Pinnacle Studio 17.5
Will Quicktracks work in Pinnacle Studio 14?
Will Quicktracks work in Pinnacle Studio 11/12?
Importing audio files into Pinnacle Studio
SmartSound does not work in Ulead Video Studio 8.