Subject: Sony Vegas Pro will not update filter list.
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It is safe to do and will not delete any of your saved projects, if you have been remembering to always do regular saves while working on a project.
If the program crashed while editing your project and you been doing regular saves, you can end up losing all your work!
Do what "Sleepyhead Media" said but also check before rendering, when choosing the format to render with, click on it and then click on Customize Template, then under Encode Mode select Render using CPU only!
(This is valid if you render in .mp4 which is what is shown on your screenshot) Also i always remove the tick on Allow source to adjust framerate but i don't know if that's part of the problem, it's just a thing i prefer to leave off.