Final Cut Pro 10.7 - Loses Space Designer Presets

I updated Final Cut Pro to 10.7, looking forward to try out the new features, and when I added a Space Designer preset it did nothing.

I opened the settings page for that preset, and it shows "file missing" - a tweaked Apple preset BTW.

I selected an entirely different preset, and same thing.

I then click "load IR" which it navigated directly to it and I only had to click "open".

Now it shows the file is added, and even the audio waveform, but as soon as you hit play, it goes missing again.

What the... Any other ideas I can try?