Vegas Explorer is showing thumbnails correctly but Project media is a mess even after right-clicking and refreshing. Anyone else had this problem? Could a new graphics card improve things? Thanks.
When the number of files in the thumbnails folder reaches 255, Vegas can stop responding or display the wrong thumbnail.
Cleaning thumbnails folder (C:\Users\username\AppData\Local\Sony\Vegas Pro\12.0\Media Pool Thumbnails) may help (and it can't hurt since Vegas will rebuild the thumbnails as needed. Vegas generates the thumbnail files when you scroll in the Project Media window.