Premiere Pro's support on non-DV formats is flakey at best. It comes as no surprise to me that MPEG4 material (your DivX 6 encoded video) does not play in the timeline, and this is normally addressed by converting to a more "editable" format outside of Premiere first.
However, as Premiere is not seeing the codec and not therefore displaying as an output option, there's a possibility that there was a problem with the installation of the codec. I assume you are selecting File > Export > Movie and then selecting the codec there?
It might be worth uninstalling and reinstalling the DivX codec.
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