imovie 6.0.3 will not load

I am using a imac desktop I bought in '07 with a 10.6.8 operating system. I am trying to access the imovie application (v6.0.3) that came with my computer. This is the first time I've tried to open it. A welcome screen opens with options to open an existing project, quit, or create a project. When I select create a project, a small gray translucent window appears with just the option to cancel. This is as far as I get. Does anyone have some trouble-shooting ideas for me?

Thanks.