I purchased Movie Edit Pro 17 recently and I got the exact same thing. It worked fine for a couple hours. After I installed the plugins it wouldn't load anymore. It gave the error sound and froze at the same "initializing Media Pool" I tried updating the drivers for the graphics card as suggested but no luck. I then sent a message to Magix Tech support. They sent me a reply with a link to a program called syscheck. You run the program and it sends your computer info to tech support. I ran the program and sent the computer information. I got a reply back stating that I needed to update some of my drivers and that my bios was also out of date. They gave me links to all of the necessary driver installers. I ran all of the driver updates and even upgraded the bios and had the same problem. They then told me to reset the program by deleting the "Videodeluxe.ini" file. Here are their instructions for that part:

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Please delete the following file in the location below to reset your Movie Edit Pro 17 Plus.
You may need to allow Windows to show hidden files to find this location.
Movie Edit Pro 17 Plus
1. Go to location:
C:\Users\XX--Enter-Username__XX\AppData\Roaming\MAGIX\Movie_Edit_Pro_17_Plus_Download_Version\
2. Delete Videodeluxe.ini
3. Restart Movie Edit Pro

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I followed these instructions and the program loaded without freezing. I have loaded it several more times since then without a problem.  The above method worked great for me but each scenario is not always the same.   I would suggest contacting tech support directly.  I got very prompt replies. They had my program up and running again in just a day or so.