Thanks to all who replied.
I found the Hardware acceleration check boxes. The first one was unchecked and the second checked (opposite to Hal's screenshot.) I now have both unchecked per Andrew's recommendation. I was able to get through the rest of my edit and burned 2 DVD's w/o a glitch. YEAH!!
Per SoftDeko's reply: (MY COMMENTS IN UPPER CASE)
1. Update your graphic drivers will hopefully clear up the display issue.
Driver Date/Size: 9/9/2010 18:29:16, 616960 bytes (ACCORDING TO ATI WEBSITE, MY DRIVERS ARE UP TO DATE.)
2. HDD (hard disc drive) and file source location. The HDD could be failing and slow to provide data. That looks a distinct possibility. File source location and slow response leading to a white opaque screen is triggered by access issues and HDD slowness. I BOUGHT THIS PC IN FEBRUARY BECAUSE IT HAD INTELS I7 QUAD CORE AND IS A 64-BIT MACHINE. I BOUGHT CYBERLINK BECAUSE IT IS TAILORED TO A 64-BIT MACHINE. I WAS DISSAPOINTED THAT HP PUT A 5200 RPM HD IN IT INSTEAD OF A 7200. I MIGHT UPGRADE IT TO A 7200 RPM IN THE FUTURE. IS THE ATI UPGRADABLE TO SOMETHING FASTER IN A LAPTOP?
2-1. I see you have a partitioned drive, what's on D drive? RECOVERY SOFTWARE AS SHIPPED FROM HP.
3. Clean up your HDD, defragment it. Clear out the temp files and then see what effect that has. MY DEFRAG IS CURRENT AND I DID A DISK CLEAN TO REMOVE TEMP STUFF.
I LOOK FORWARD TO DOING ANOTHER VIDEO EDIT SOON TO SEE IF I CAN GET THROUGH IT WITHOUT ANY TROUBLES. THANKS AGAIN TO ALL OF YOU FOR YOUR PROMPT REPLIES.