Hmmm... like other companies I know, Pinnacle, in their rush to dominate the market with the product, can have some odd habits and doesn`t always match everyone`s specs, P7 (and presumably other variants) does behave oddly at times, like wanting the camera connected, switched on & ready to play before you even bring up the software. Once or twice it`s caught me out when I`ve inadvertently forgotten the sequence it likes to see, found it ignored the camera, froze my screen, disconnected the external HD, disabled my Firewire card & eventually locked the PC requiring a reboot!
Have you made sure everything`s ready to go before bringing up P7?
Maybe by now you`ve cracked it?
Equipment freak who must learn that technique and opportunity are the key elements to success - not credit card balance!