Studio version 9.4 and higher now supports the import of DivX files as well as other Video Codecs wrapped in AVI files. This means that DIVX Codec (up to DIVX 5.22), XVID Codec & ISO MPEG-4 Codec (3 flavors MPEG4, MPEG43 & MPEG4s) are all supported on import. Note that import and edit of DivX and Xvid files requires the Pinnacle Advanced Codec Pack which may be unlocked from within Studio for $9.99. ISO MPEG4 import requires the ISO MPEG4 codec which may be downloaded from the Microsoft website.
This does not mean that Studio now imports all MPEG4 files though. Only MPEG4 files wrapped in the AVI format may be imported. As an example, a file with an extension of .mp4 will not import into Studio even if you have purchased the Advanced Codec Pack.