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You might want to try to reinstall Quicktime.
I had a similar issue affecting both 6.5 and 7.0 Pro. After I completely reinstalled my OS the issue still persisted. Turns out that my installation of Quicktime was corrupt and causing AFX to blow up. In my case I completely removed Quicktime and that resolved the issue although AFX bitches at me everytime I started it up reminding me that some features requiring Quicktime are disabled.
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