2017.1.2
I also get lots of "ImporterMPEG (Importer:39)" and "low level exception lumetri" errors.
So, I'm using .cube LUTs that I've made myself and exported from lightroom using a 3rd party plugin......
I've copied them into the corresponding folder within the Premiere and Media Encoder folders. So, as suspect as this may sound, the same exact LUTs will work sometimes, and not other times. Each time this happens, it's almost always at the exact spot in the project - and even if I remove the LUT from the clip I think is the problem, it still freezes. Am, I making sense...
First, do not put "outside" LUTs/Looks in the Creative folder in the Lumetri folder tree in the program, as that is problematic since 2015.3 (the first 10.x build). You can still drop your LUTs/Looks in the Technical folder, but the Creative folder ... they've changed the way the app links to stuff in those folders, and adding something else can get screwy results in odd ways.
If the LUTs/Looks you create are stored in your Library folder on disc and accessed via the "Custom" option, or stored in some other place that's easy to find ... once you've used that Custom option to navigate there, it should go back there any time you select Custom. And further, you don't need to then put them someplace else for AME, it will read them fine from that one folder.
Second ... I would take those LUTs you've created, apply them one at a time to a "clean" uncorrected clip, then use the hamburger menu of the Lumetri tab itself to export a .cube LUT, name it appropriately, and use that LUT created by Lumetri. It should do exactly the same thing, but ... Lumetri should work with it better.
Neil