What is the difference between Avid Codecs LE and PE?  I have and Avid Codecs PE Folder within my Avid Folder. What effects will installing the Avid Codecs LE have on my Avid and my Avid Codecs PE?

The PE version includes licensed codecs that aren't available in the free LE pack.  I can't remember what they were and I'm too lazy to check, but I would think that if you installed a later version of LE over the full PE you may lose some functionality.

It was one of the MPEG codecs, which requires a licensing fee to the MPEG group.

That one is only available in the Professional (paid) edition of the codecs.

Thanks Kevin.