Videoplayer not working/corrupt

I am having some issues with using the video player whilst running Cubase 6.54 (XP/32 Bit). I can import the *.mov files ok, but when I open the video player it malfuctions (see attached screenshot).

I have tried reinstalling Cubase, updating quicktme and even reinstalling my video card drivers but nothing seems to work, can anyone help?
Videoplayer Error.JPG