Hello Reaper398
Could quick suggestions I have for you
1. Quit iTunes, And download and install latest Adobe Flash Player
http://www.adobe.com/products/flashplayer/
*Recommended to reboot after it is installed.
When you get back up and running. Feel free to test movie out again. And see if the green image continues.
If it does proceed below.
2. Go to Control Panel - Add/Remove Programs or Programs and Features
-If you got Multiple versions of Adobe Flash Plugins. You may wish to uninstall all of them, Then download and install latest Adobe one last time
http://www.adobe.com/products/flashplayer/
Reboot as needed.
If this continues again proceed to step 3.
3. Launch Control Panel - Switch to Classic view if you are not in it. You can see this as an option in the left hand corner of Control Panel
Double click on Quicktime, Go to Advanced Tab - And Empty Cache.
Keep this Window Open, Test Movie Out, If it continues. Close iTunes one last time. Go back to the Window we left open. This time Click on Safe Mode (GDI only) for now.
This is typically caused by outdated Flash Software and or Direct X Software. IF you have Vista you should already have latest Direct X Installed.
If you got XP visit the link below for latest Direct X drivers. As this may also assist without having to use the Safe Mode (GDI) only
http://www.microsoft.com/downloads/details.aspx?familyid=2da43d38-db71-4c1b-bc6a -9b6652cd92a3&displaylang=en