This approach is "working", but required...
1.deleting all existing effects (flips, colors, stabilizers) for all of the clips.
2.Then switching to "Software" and deleting all previews.
3.Saving project. Exit and starting again.
4. Add effects and stabilization again one clip at a time
Now at least this project is working... Can think this is quite labour intensive for larger projects. Gladly had only few clips stabilized.
Can someone else try if this approach if working to get this verified?
Please get this fixed.