Video Files are blacked out after update

What the heck happened after this update?  Yesterday everything was fine.  Did the update and all the video layers had are completely blacked out or are flickering to black when playing them on the timeline.  This seems like a real common problem as the issue seems to be pretty widespread.  It's happening at home and on my friends computer as well.  The audio is there but the video files are gone.  Please fix this issue.  My work will not be too happy that's for sure.