In addition to what @CubeAce (Ray) has written, once the new MEPP was installed did you also choose the option Help>Install additional content (or similar words)?
To add to @CubeAce comment - did you install the second part of the program which has all the extra content, functions, features, template and effects?
If not, then do so - Help, Install extra content...
Note this can take a long while depending on you Internet connection speed as the download total size is very large.