FCP 7 error: this project is unreadable or may be too new
I have been having a slew of problems with a very large FCP project recently (about 6.25 TB of media split between a 6 TB RAID and a USB 3 connected 1 TB external drive). Sometimes I get "out of memory" when trying to render, sometimes the program file simply crashes out of nowhere. I have tried a number of troubleshooting tactics and I am aware that a certain amount of crashing and trouble is normal with FCP.
BUT recently after the program file crashed, I went back to the autosave vault and tried to open the most recent file and got this error message: "this project is unreadable or may be too new for this version of final cut." It makes no sense because I have been working with the same FCP version and system OS version (Snow Leopard) since the beginning of the project.
This has got me spooked and I would really appreciate any ideas. Thanks!
I'm working with a Mac Pro, 2m93 GHz 6 core, 12 GB memory, version 10.6.8