Adobe premiere pro cs5.5 won't import video

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This only appears to happen with project files that I saved on external hard drives, and I suspect it has something to do with the Media Cache Files folder and how Premiere Pro locates these conform/index files. On some video clips there's just text that reads 'Media Pending'. As a result, my audio channels have no waveform and during playback there are no audible tones or levels. When clicked, it pops up with a list of errors that read: 'An unexpected error occurred while performing a conform action on the following file.'.

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On the lower right-hand portion of the screen, next to the conforming/indexing progress bar, is a little red 'X'. The conforming and indexing of all of my imported media never seems to finish regardless of how many times I reopen the project file and wait for it. 3.4Ghz i7 2600 processor, 16GB of 1600Mhz RAM, 64GB solid-state drive and a ASUS P8Z68-V Intel Z68 Motherboard with onboard audio ( Realtek ALC892 chipset) and onboard video. I'm working on a desktop PC which is running Windows 7 Professional 64-bit and Adobe Premiere Pro (version CS5.5).

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