iMovie ’08: With some display calibrations, iMovie may not open

 After upgrading to Mac OS X 10.5 Leopard, iMovie may no longer open and Console may report a color matching issue similar to the following: "iMovie[5217] *** NSRunLoop ignoring exception '*** -[NSCFDictionary setObject:forKey:]: attempt to insert nil value (key: output_color_space)'  that raised during posting of delayed perform with target 0x678210 and selector 'initiateUI