I found the problem and solution. After installing PMB on the second computer, I connected the camcorder to the computer and it started recognizing the m2ts files. At the end of the installation of PMB, there was a message saying "Once your camcorder is connected, more device specific features will be installed" or something to that effect. I did not imagine that would include enabling PMB actually to see the existing m2ts files. Anyway, it works now. Another weird Sony thing. What if the camcorder is gone (sold, broken, etc) and I want to install/use PMB on a new computer?
I have Sony HDR-CX150 camcorder with PMB 5.2.00. I downloaded videos to my computer (Window7, 32 bit) and burned the disc etc. Now I got better computer (still Window7, 32 bit) and I copied over a few video files (AVCHD, m2ts.moff, m2ts.modd) using memory stick and installed same PMB. PMB does not recognize the video files! I deleted the moff and modd files and let PMB analyze the media files and it still does not see it. It recognizes MPG files fine but not AVCHD that it created on other computer! Is this how it is supposed to be or is there something wrong? I read somewhere else that this is how it is supposed to be but it is hard to believe..
I have whole lot of AVCHD files backed up, so if PMB cannot open them, I'm in trouble unless I fix is somehow or find another program that can edit AVCHD created by Sony camcoder. I heared that not all AVCHD are created equal..