Missing movie files in my project since iOS 8 and iCloud Photo Library

Hello all,

I've been to New York at the start of 2014 and created an awesome movie project in iMovie for iOS. That was when iOS 7.1.2 was the most current release. Today, I wanted to finish up my project. I'm currently running iMovie 2.1.1 on iPad air 1 running iOS 8.1.2 and iCloud Photo Library is enabled since day one. I Opened the project today and iMovie told me there are missing movies in the project and offered me to search for them. It only found 2 out of 140 or something. Now my project timeline is filled with clip with exclamation marks and many transitions with pictures in them are missing too. I tried to download clips that are in iCloud by tapping the Cloud icon but iMovie still cannot find them. Ive also tried importing from iCloud drive, disabling iCloud photo library and syncing the movies from iPhoto using iTunes on my iMac but iMovie cannot link them to the project. I'd hate to see hours of editing work to go down the drain.

Hope someone can help.

RF