Interpret Footage no longer seems to work with the Premiere update as it did with older versions. I film at 50fps, and in Premiere before, I would interpret the footage and set them all to 25fps, drag them onto the timeline (25 or 50 fps), and I had my footage in 50% slow motion without having to change the speed of my clips one by one on the timeline to 50% (a time saver). However, this no longer works on my update of premiere. Premiere always plays the footage at the original 50fps (originally) even if you interpret the footage at 25fps. If anyone else noticed the same thing, I haven't found an option to make footage interpretation work properly.
Thanks
Jon