Latest news--
Deducing that the cursor arrows still work in the Bin area when it does not work in the Timeline area, I believe it is a conflict error with the different QuickTime codecs. I thought it was a Windows 7 incompatibility with each Definition Update for Microsoft Essentials, but I realized an incompatibility between Adobe Quicktime codecs and Apple Quicktime codecs.
I uninstalled the newer Apple QuickTime and installed the older Apple Quicktime.
Note to Adobe software engineers-- program stability with Premiere Pro returned.
Will keep you posted.