With Digital Camera's and Camcorder's some may need a codec pack to be installed to allow the video files to work with other programs.
Also, if an MP3 is to be set as the video/audio, a codec pack needs to be installed.
One of the most common codec packs is K-Lite codec pack and it is a free download. You can find the download for codec pack on Download.com. Click on the link below to be directed to the download site.
K-Lite Download Link Click Here
Once you have the codec pack installed try re-importing the video into VideoStudio, if the video still does not import or you are still unable to edit the video, contact the Corel Support Team