Everytime when I edit something in After effects and I want to watch it in Premiere, it turns red.. Okay that is fine. But when I try to hit Enter it says Error compiling movie and this message occurs.
I would try to solve it by going to Sequence > Sequence Settings and change the Video Previews > Preview File Format to QuickTime and set the codec to Apple ProRes 422 LT. When you click OK you will get a message, press OK there as well.
Or, change the Preview File Format to I-Frame Only MPEG.