It appears Adobe once again broke video codec handling (they did this last year as well) with the latest AE Update. I'll have this show up generally on MP4s but sometimes MOVs too depending on the codec used. PC - W10 AE 15.1.2 (Build 69) Disable Hardware Acceleration and clear your media cache until they fix. To disable hardware acceleration, go to Edit >  Preferences > Display > Uncheck Hardware Accelerate Composition, Layer, and Footage Panels. Yes, this will slow things down considerably while using the software. Thank you, Adobe. ... View more

Hey Tim, I've been using the prerelease software for two days now, no red frames. Has been working great for me. Thank you! ... View more

I imagine an update will fix it--or you can simply remove the line or replace false with true. I think if you remove the file it will re-create one for you as well upon re-launch. This fix came from Tim @ Adobe who was very responsive with me for testing, so I'd like to thank Tim and his team for proactively reaching out to us on the forum. Good to see! ... View more

I've been working with Tim from Adobe on this. We believe this is due to H264 hardware acceleration. I've been able to eliminate the red frames from adding a line of code to the After Effects Preferences to disable H264 hardware acceleration. Steps to correct: Preferences > General in After Effects Click the Reveal Preferences in Explorer button Open the file: Adobe After Effects 13.8 MC Prefs in Dreamweaver (if you have it) or you can try Notepad though it's an XML file so the display will be off. Add the bolded line to your XML file so it looks like something below: <?xml version="1.0" encoding="UTF-8"?> <PremiereData Version="3">   <Preferences ObjectRef="1"/>   <Preferences ObjectID="1" ClassID="f06902ec-e637-4744-a586-c26202143e36" Version="30">   <Properties Version="1">   <Project.Prefs.Enableh264Acceleration>false</Project.Prefs.Enableh264Acceleration>   <TransmitEnabledKey>false</TransmitEnabledKey>   <BE.Prefs.DefaultSourceChannelMapping>3</BE.Prefs.DefaultSourceChannelMapping>   <BE.Prefs.Audio.MixdownType>3</BE.Prefs.Audio.MixdownType>   <BE.Prefs.ScratchDisks.FirstDVDEncodingFolder>SameAsProject</BE.Prefs.ScratchDisks.FirstDVDEncodingFolder>   <BE.Prefs.ScratchDisks.FirstAudioPreviewFolder>SameAsProject</BE.Prefs.ScratchDisks.FirstAudioPreviewFolder>   <BE.Prefs.ScratchDisks.FirstVideoPreviewFolder>SameAsProject</BE.Prefs.ScratchDisks.FirstVideoPreviewFolder>   <BE.Prefs.ScratchDisks.FirstAudioCaptureFolder>SameAsProject</BE.Prefs.ScratchDisks.FirstAudioCaptureFolder>   <BE.Prefs.ScratchDisks.FirstVideoCaptureFolder>SameAsProject</BE.Prefs.ScratchDisks.FirstVideoCaptureFolder>   </Properties>   </Preferences> </PremiereData> Quit After Effects Open After Effects back up, the red frame is still there because of Media Cache. Purge all of your media/memory cache from the menu Edit > Purge Footage should blink/reload and red frame gone. Worked for me. Please report back if this fixes your issue or not. Good luck! ... View more

Hey Tim, For me this was on Windows 10. Footage was AVCHD (1080p @ 59.94fps, 28Mb/s) direct from my Camera - Canon EOS C100 Mark II. I'm out of town today but can provide system info tomorrow when I return. I had attempted to play around with file interpretation and composition settings--messing with fps of both the file interpretation as well as AE composition which had no effect on the red frames. Reverting back to 2014 immediately fixed the problem and it had worked fine in 2015 prior to the latest 2015.3 update. Thanks,Geoff ... View more

Glad that fixed worked for you, but this is indeed a problem that Adobe needs to fix. A quick reversion back to AE 2014 and the red frames are gone (I changed nothing but the version of AE). They obviously modified something in the processing of this footage because previewing and rendering out my AVCHD video is significantly faster in the latest release of AE--it just introduced the red frames. Thumbing through posts from years ago, this bug has cropped up before. I imagine they'll squash it soon enough. Likely a AVC codec issue. I bet I could get the red frames to show up on my older AVCHD .MTS files, as well as the MP4. They also screwed something up with Warp Stabilizer in 2015. AE 2014 works beautifully on footage that has very minor hand held wiggle. 2015 absolutely destroys it. Since I reverted back I figured I'd test it out since 2015 has been giving me issues. That's a whole other conversation though... ... View more

I too am having the red frame issue and cleared my cache. I am using AVCHD imported straight from my Canon EOS C100 Mark II. Works fine in previous versions (though I will say this latest version of AE renders MUCH faster but the red frames in both preview and final render require me to revert back to previous versions of AE). Please fix asap. ... View more