Vegas Pro 12 using a Dell Inspiron N5010 laptop, 8GB RAM, Intel I5 Quad @ 2.3 GHz, Intel Standard Graphics, no GPU

I am able to apply Video FX to the preview, but can't select or edit a portion of the file on the timeline.

https://www.dropbox.com/s/i3qnb3rq2tvipcy/102.wmv

Here is the MediaInfo for a sample file:

General
Complete name : E:\Transfer 1\102.wmv
Format : Windows Media
File size : 141 MiB
Duration : 2mn 54s
Overall bit rate mode : Constant
Overall bit rate : 6 780 Kbps
Maximum Overall bit rate : 6 764 Kbps
Encoded date : UTC 2014-02-22 18:08:46.970
SfOriginalFPS : 239760

Video
ID : 2
Format : VC-1
Format profile : MP@HL
Codec ID : WMV3
Codec ID/Info : Windows Media Video 9
Codec ID/Hint : WMV3
Description of the codec : Windows Media Video 9 - Professional
Duration : 2mn 54s
Bit rate mode : Constant
Bit rate : 6 519 Kbps
Width : 1 440 pixels
Height : 1 080 pixels
Display aspect ratio : 4:3
Frame rate : 23.976 fps
Color space : YUV
Chroma subsampling : 4:2:0
Bit depth : 8 bits
Scan type : Progressive
Compression mode : Lossy
Bits/(Pixel*Frame) : 0.175
Stream size : 135 MiB (96%)
Language : English (US)

Audio
ID : 1
Format : WMA
Format version : Version 2
Codec ID : 161
Codec ID/Info : Windows Media Audio
Description of the codec : Windows Media Audio 9.2 - 192 kbps, 48 kHz, stereo (A/V) 1-pass CBR
Duration : 2mn 54s
Bit rate mode : Constant
Bit rate : 192 Kbps
Channel(s) : 2 channels
Sampling rate : 48.0 KHz
Bit depth : 16 bits
Stream size : 3.99 MiB (3%)
Language : English (US)

ProRes is unique to Apple FCP. There is no ProRes codec for PC's. (Apple has a ProRes playback codec that lets you view ProRes files on a PC, but not make them).

What happens when you try to edit the event on the timeline? Your sample loads and edits here just fine.

I may be confusing myself.
I want to delete the 1st 32 frames of 102.wmv and leave no blank time of 32 frames. I thought before I could just place the cursor at the beginning of frame 33 and sweep to the start and press delete. This would make frame 33 frame 1. I can't seem to do this anymore without leaving 32 blank frames at the start.

A case of Auto Ripple on/off?

I want to delete the 1st 32 frames of 102.wmv and leave no blank time of 32 frames. I thought before I could just place the cursor at the beginning of frame 33 and sweep to the start and press delete. This would make frame 33 frame 1. I can't seem to do this anymore without leaving 32 blank frames at the start.

Another way to do this is to place the cursor at the end of frame 32. SPLIT the video at that point, than select the first 32 frames (just click [or was it double click] on one frame) and DELETE them.

But, without auto ripple the remaining video will not move unless you drag it over.

I did use the S split tool, it didn't seem to work before. I edited the video to the length I wanted. I deleted the auto-created audio proxy track and added my own audio track. I created a title using TitleStrip from Vasst.

Now, when I try to render the movie I am only presented with audio templates, even when I highlight the whole project. Does anyone know what I'm missing here? Thanks.

Unmute your video tracks?