Live Sets saved using 'Collect All and Save' open up with a 'Media Files Are Missing' message in the Status Bar.Samples used by a Live Set not saved into a project's dedicated 'Samples' folder.
You may need to install Live Packs in order to add presets for Live's devices. You can download Live Packs fromhttp://www.ableton.com/livepacks.
After the Live 8 installation, the presets in Live 7 are no longer working. Error message text: “The preset cannot be loaded. It's probably broken”.