(Please excuse me for my english, I'm from Sweden...)
I've figured out how to decode/decrypt the UFX-soundeffects, the premiumbackgrounds (XPG-files) and overlays/buttons (XGA-files) for Pinnacle Studio 10 & 11!
I'm surprised it's so simple that the decrytion could be done by a webpage! Pinnacle should be ashamed!

I've made a small PHP-script that does the job and uploaded it to a webhotel, so if anyone is interested I'll let the script be availiable for a few days so you can try it.
Because of the limitations of the webhotel, the largest WAV-files will probably time out before the decrypting is completed, but files up to 5-6MB should work just fine.
When I tested the script on my local server, there were no problems at all even with 20MB-files...

The XPG-format is nothing but a regular JPG-file encrypted with a simple 4-byte XOR-filter, and the XGA-files are TGA-files encrypted with exactly the same filter.
The UFX soundeffects WAV-files are still WAV-files, but the part of the file that contains the sounddata has also been encrypted with the same XOR-filter.
It's important to rename the decrypted files, otherwise you'll still get that Pinnacle watermark in your movie when you use the new files.
The script will change the filename for you by adding an underscore at the end of the filename and replace spaces with underscores within the filename.

Here is a link to the script: Pinnacle-decoder WAV, XPG, XGA

If anyone is interested in more details about the decryption, please let me know!

I agree the the backgroundimages and the soundeffects hardly is something I would use in a movie, but there are other "locked" things that actually could be useful some day.

The thing is, that since the picture-decoding is almost the same as the wav-decoding for the "premiumcontent", maybe more of the premiumcontent uses the same simple decoding-algoritm?

If it's so, this decodingscript might hold the key to the whole thing, and it wouldn't have to be to hard to rewrite the script to handle other things than pictures and soundeffects.

Let mer remind you that you already have the files in your computer, and all you have to do is to decode them to use them.
Or you can buy an overpriced unlocking-key...
When you buy a key to unlock something in Pinnacle, it seems that all that happens is pretty much that Pinnacle turns on a filter for those files.
A filter that does the same thing as the script.

Yes, and the script will return the decoded file and let you save it or open it.