iMovie08 don't like Canon 7D footage

[once2work]

When I pull the 7D footage onto the iMovie08 being bounce out.

First I list out my hardware and software version:
Macbook OS X 10.4.11
iMovie08
Canon 7D

The footage from Caonon 7D, the file name show as "MVI_8372.MOV".

Please give me some advice what caused the bounce out from iMovie08.

I'm not intend to spend money on the Final Cut Studio, may be Final Cut Express if my OS or iMovie not catching up with the 7D.

Thank you!