iMovie 10.0.2 update issues when creating new project
So I updated toe the latest iMovie on my MacBook Pro (Retina, 15-inch, Mid 2015). Now when I try to create it is grayed out in the File menu. When I click the Projects tab and then the New Project icon, it asks me where to create the project but then creates it with the name "My Movie".
I am also now getting the spinning color wheel of slowness very often during editing. I am accessing my media from a USB 2.0 external hard drive the same as I did before the update. In fact, nothing has changed on my end except the update.
I knew I should have followed the "if it ain't broke, don't fix it" philosophy and waited but I had a weak moment.
Am I missing something here? Is there a way to notify Apple of these issues? Or Do I just need more training?
iMac, Mac OS X (10.6.8)