Alright, I'm completely befuddled and frustrated. I'm getting this exact same error message ("Adobe Premiere Pro could not find any capable video play modules. Please update your video display drivers and start again.") despite setting Premiere Pro CS6 to Run As Administrator and Run With Graphics Processor: High Performance NVIDIA Processor. After Effects, Photoshop and Audition all open without a hitch. I have the most current GeForce driver available (that isn't in Beta, that is). I've tried running the compatibility troubleshooter and everything. Nothing fixes it.
Here's the thing. Premiere will occasionally work. The problem is, I can't nail down what changes. I've tried a myriad of things but can't seem to figure out why it'll suddenly work, I'll be in there for a long time with no issue, I'll close out and put the laptop to sleep, come back later to work again and the error greets me once more. None of the above solve my problem.
Here's my info: Asus Q550LF; Windows 8.1
Processor: Intel(R) Core(TM) i7-4500U CPU @ 1.80GHz
Installed Memory (RAM): 8GB
System Type: 64-bit Operating System, x64-based processor
GeForce GT 745M Driver Version: 337.88