was a solution ever found to this? it is currently happening to me and i cannot find an answer anywhere!
only current project stalls. have created larger projects before with no issues. i have plenty of hard drive space. project stalls even when moved to external drive. can edit and create other projects in imovie. have verified disk and permissions in applications.
using iMovie '09 8.0.6 (821) on a Max OSX 10.5.8, 2.1 GHz Intel