New Air - iMovie Black Playback Screen?

[OSMac]

Tried iMovie on the new Air.
Dragged 3 photos to the timeline.

All 3 show with the same preview icon
and the playback video window is just black?

Try it on yours if you have a minute let me know...

 

[OSMac]

Anyone ???

Here's a screenshot can't figure this issue out?

1) Open iMovie 11 (new Air with Lion preinstalled)
2) Click on Photo icon, to bring up photos in iPhoto library
3) Drag photo(s) from library to time line

As seen in the attachment the preview window is black and despite dragging 3 different photos , the timeline's icons show the same one?

Try on yours if you have a minute, maybe I need to reinstall iMovie but not sure how.