This could be a display driver issue - are the graphics drivers up to date.
We also need more information about your computer and program version - please see this topic for more details of what is required - please quote processor and graphics card names and models in full.
I got onto Hewlett Packard who reinstalled my Intel graphics driver, which cleared that thanks.
But now when I start the Rescue Your Video tapes app, then select Import videos from analogue sources, then Import and click on the down-arrow, nothing appears. The VCR is powered up and connected.
The second problem is most likely due to the incorrect drivers being installed for the USB Video - see this Support topic and download/install the correct driver for the USB device colour you have.
Personally I have no idea, but the convertor was probably supplied for a specific earlier version of the program.The driver could be an update or released for the newer converter. John will probably know the answer to that.
Leaving a driver in place should not do any harm if not used and would be replaced by updating the driver if needed.
Magix to my knowledge has not had any dongles in stock for over a year now and have at least for now put a 'Not in stock sign' up on their website for longer than that, also making buying the latest version of the program unobtainable directly from Magix.
. . . . I forgot to ask if the K0065 will still work now or do I have to buy another Magix converter . . . .
The drivers provided on the Support page I linked to are the latest versions for the K0065 - the required driver is the Black either version will work.
Unless the converter is damaged/faulty then you should not need to buy another.
. . . . Also, if I install the Premium version driver, will it stop my other drivers from working ? . . . .
No, they will add, or replace the existing driver, for the USB device you have.