I'm working on doing some very easy edits to some go pro footage taken this weekend. The last time I performed this was with the 7.X version in June before the 2014 update. The application opens fine and I've been able to create my project, import footage, and add it to the timeline, but hitting play does nothing. The play button changes to a stop button, but no playback occurs. I have rebooted my machine, tried the footage in quicktime (runs fine), and anything else I can think of. I've also opened an older project from before the update that worked fine in the past, but after it "upgraded" to the new update, that too would not play within the application. I'm really at a loss with what to do on this. I've included my system specs below for whatever it is worth. Thanks in advance for your help!
iMac (late 2012) 3.2 GHz i5, 8GB RAM, NVIDIA GTX 675MX, OSX 10.9.4
Premiere Pro v8.0.0 (169) Build
Footage: MPG4, 1080P, 30FPS, GoPro Hero 3+ Black