PLEASE NOTE - THIS IS LESS A QUESTION AND MORE OF A KB ARTICLE! RECOMMEND DOING THIS BEFORE YOU TRY ANYTHING ELSE; WORKS 99% OF THE TIME FOR ME!
When I have issues with Toast on any version dating back to Toast 14 (Mac), forums, discussion groups and even chatting with Corel/Roxio Support will waste time and ultimately take me to the same resolution. Before checking anything else, do the following below:
You'll need your Toast Serial Key (located on your CD/DVD or via email from purchasing online). Without it, might as well contact Corel/Roxio to get another copy of it.
Quit Toast Application.
Open Finder and navigate to ~/Library/Preferences.
Locate and trash the following files (some may not exist if never used):
Empty your trash and reboot your Mac. Login and open Toast. You'll be prompted for serial key, then most problems solved.
If that doesnt work, check for updates. Otherwise, this will fix 99% of your issues! Hope this is helpful!