I re-installed my libraries (there was about 20 or so, one at a time and clearing the notifications in the PRODUCT MANAGER (I even closed out of the product manager and re-opened it) just to make sure the error would not return.
Eventually all my sounds libraries were fine and accessible. It took a few hours, but it finally worked.
As a reminder DON'T install your sounds before you Authorize your software.
For me, I ran into the problem of needing to re-install all those libraries, because I had not yet authorized my TOTAL STUDIO MAX 3.5 before installing all those missing libraries.
Use the AUTHORIZATION MANAGER first for your software...
