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I am having this problem as well and it is very upsetting since I spent a lot of money for this program...

I tried using the above solution (Downloading and installing the latest K-Lite codec and then rebooting) but it did not fix anything for me.

I used MediaInfo and this is what I am trying to import:


General
Complete name :

C:\Documents\Bandicam\VideoSample.avi
Format : AVI
Format/Info : Audio Video Interleave
File size : 355 MiB
Duration : 5mn 26s
Overall bit rate mode : Variable
Overall bit rate : 9 131 Kbps
Writing application : BandiAviMuxer 1.0

Video
ID : 0
Format : MPEG Video
Format version : Version 1
Format settings, BVOP : No
Format settings, Matrix : Default
Codec ID : MPEG
Codec ID/Info : Chromatic MPEG 1 Video I

Frame
Duration : 5mn 26s
Bit rate mode : Variable
Bit rate : 8 922 Kbps
Width : 1 440 pixels
Height : 900 pixels
Display aspect ratio : 1.600
Frame rate : 30.000 fps
Color space : YUV
Chroma subsampling : 4:2:0
Bit depth : 8 bits
Scan type : Progressive
Compression mode : Lossy
Bits/(Pixel*Frame) : 0.229
Stream size : 347 MiB (98%)

Audio
ID : 1
Format : MPEG Audio
Format version : Version 1
Format profile : Layer 2
Codec ID : 50
Duration : 5mn 26s
Bit rate mode : Constant
Bit rate : 192 Kbps
Channel(s) : 2 channels
Sampling rate : 48.0 KHz
Compression mode : Lossy
Stream size : 7.47 MiB (2%)
Alignment : Aligned on interleaves
Interleave, duration : 24 ms (0.72 video frame)
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