Image stabilization not working in iMovie 9.0.7

Imported footage from Nikon V1 at 1080 30 fps. Tried to apply image stabilizaiton to some clips. iMovie analyzes clips for stabilization and the icon for stabilized clip appears and indicators for rough footage appear, but on playback, there is no difference, and the slider for stabilizaiton amount is gone from the inspector. I have stabilized clips before from other cameras, so I know what it should look like, but it apparantly doesn't work for video from this camera. And yes, I added the clips to the project before trying to view it, still no difference. Any ideas?