I have made many projects without problems - however on this new project, every time I move a full color clip onto the timeline and try to play it - it plays intwo colors only - purple/white or green/white. Anybody know why?
I think you have got the preview monitor set to Anaglyph (3D) mode, probably by hitting the key shortcut for this mode
Depending on which version of MEP you have, click the icon top left of the preview monitor (glasses or barred square) and check it is set to Standard (2D)
The key board shortcuts are the full stop (period) for standard mode and Ctrl + full stop (period) for Anaglyph