Replacing premiere film with AE not working...colored bars replace file!

Solve this yet, SamanthaT? If so, please mark the appropriate answer as the correct one.

Thanks,
Kevin

I'm noticing that your "footage" file has a .aep extension, which implies that it's actually an After Effects file already.
Just to confirm, was this actually a video file when it was on your Premiere timeline? What was the original file extension?

If it's already a dynamically-linked AE project on your Premiere timeline, I can see how looping it BACK into AE would probably not work out. It's not exactly a circular reference, but it certainly doesn't seem like something the pipeline would have been designed for.

If it is indeed a video file that is somehow having its file extension changed by being sent to AE, then that does indeed seem strange, and certainly qualifies for filing a bug report.

Go to the project panel. Double click on the file with the colour bar icon that’s missing. This will open a dialogue box where you can locate the missing file on shift on that the project will work fine.