Quote - Uhm can someone please tell me what the problem is here?

Here's a quick summary :-

Original V4.0 didn't play nice with PMD files, fixed by P7 SR1.1

V4.1 introduced a problem with the Morph Brush, problem confirmed by DAZ as limited to ERC channels mentioned in thread linked above, and AFAIK, fixed in current files (no update announcement issued though).

@kathym
If your having problems loading saved scenes, make sure the "Use external binary morph targets" option is turned off.

To recover scenes that won't load, rename (or delete) the associated PMD file.
You'll lose the morphs, but you'll get everything else in the scene back (including the dial settings).