Update
I installed the design/web bundle on a computer where Premiere was working properly and after installing, Premiere continued to work properly. I am sure that is how I made the master for that lab (video bundle first > image for film program computers > add web/design for shared lab image), but it seems to work.
For now I will make a new master and re-image the lab, which sucks because we are in our third week of classes, but our film students can't do their work in our best lab with Premiere broken.
Scott Meador / Mike Gunter