Christmas present from Avid, or kind of, they released an update of media composer with some bug fixes, now it is version 4.0.5, you can see the list of fixes here: http://avid.custkb.com/avid/app/selfservice/search.jsp?DocId=348265&Hilite=
If you are running on a mac and run in to an error when installing, click ok and install again, this will fix the problem :-)
Per
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