iMovie 1.0 and 1.0.1: Importing Video Clips Filmed Later Than 1999

Update your copy of iMovie 1.0 if you work with video clips that were filmed in later than 1999
Symptom

When you import a video clip that was filmed as the clock rolled over from 1999 to 2000:

Solution

Download and install the iMovie 1.0.2 updater. It is available from http://download.info.apple.com/ .
Published Date: Feb 18, 2012