Anyone got an answer for ths?
Premiere 5.5 project, all native M2T and MP4 files, all is good.
Add one Cineform AVI,
at first, showed black screen,
restart Premiere and Win7 64,
The clip shows.
Apply Opacity fade, heres where it gets weird.
I can change opacity with the slider, but if I add 2 keyframes, it stops, wont change.
Delete the keyframes, it works again with the slider.
Tried the Fast Color corrector and used the black and white input.... same thing.
Works with the sliders, but not when keyframes are applied.

is an premiere issue, and with your computer, i use premiere 5.5 and on my computer work fine.
check last nvidia driver, if you have nvidia, or try to disable mercury engine, on some computer i found issue with mercury and some quadro fx card, not only for rendering but in general on all editing work.

Thanks Carlo,
I dont know if its a bug with my PC or something more general,
It turns out it was only affecting clips with time remapping,
if I remove the speed change the keyframes work. Go figure.

If you time remap, you have to nest the clip in order to apply the keyframes. (right-click, nest). It has to do with the order that the time effect and other keyframes are applied. Not just Cineform clips, but all clips.

Thanks Bill, so Nesting is like Pre- composing in After Effects.
The learning curve continues. :)