Color Management Profile Settings greyed out

Hello,

I'm in the latest version of AE on Windows (15.1.1). I have color management on for my project. After Effects is now incorrectly assigning rec709 profiles to every single piece of footage I import (from .psd's to .pngs to quicktimes) when they are sRGB.

In addition, when I go try to Assign a profile under Interpret Footage>Color Management, the settings are greyed out and I cannot change it.  I cannot assign a profile for any quicktime file or .h264 file. I can assign a profile for still images (.psd, .png etc.)

Does anyone else have this issue? This was not the case with CS6, which I've recently updated from.

Thank you