Hi Tim
I just stumbled over kind of a Solution - IF You are in a type of Hurry and can get Your self to taking an un-orthodox approach.
To understand why my iMovie had some peculiarities - I did as I recommend others -
Create a new User Account and log into this.
To my surprise iMovie was quick and Happy again.
So if one project is in haste and You can see Your self to re-import material and re-do it You'll be ready in time - I guess.
To export over from one User to another - You can do this by Using an external Hard Disk and then
• IT MUST be - Mac OS Extended (hfs) formatted - NOTHING ELSE WILL DO for Video !
• Should be a FireWire one ( You were in a Haste ? Wasn't You ? )
• in iMovie export over Project including Events
And You will be of in the new User Account
Yours Bengt W