This Tutorial Shows you how to make an animated GIF out of a video. UPDATE: If you are having problems with the video not showing up, etc, THEN: Does the video file work in other programs, and do ANY other video files work in photoshop? You might have a codec missing or it could be a rendering problem. You just need to find the source of the problem (ie find out if another file will work in CS3.) If this still doesn’t help, then sorry, I can’t do anything for you.
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