Update trashed all my projects

Updated the pinnacle app on my ipad 4 to latest version 4.0.1 ( and i am still running IOS 6.0.3 to play it safe) and this new version ruined all my pinnacle projects. Older projects still show images displayed small icon style in time line but the main display shows only black on the screen. When I add a zoom to any mage or video only then will a picture display. Of course this ruins everything.

All new test projects i created worked fine but anything prior is just completely trashed.

That is BS ! Didnt you guys test this BEFORE release ?

Forgottenrebel about Pinnacle Studio Pro, v4.0.1