This is not a question but a solution to a problem that I had and found nothing anywhere on the interweb about it.
If in Premiere CS4 you right click a clip and select "Replace with After Effects Composition" and it gives you the error "could not connect to after effects," close premiere and after effects, open your task manager and kill all the processes related to adobe:
dynamiclinkmanager.exe
ImporterProcessServer.exe
processcoordinationserver.exe
Restart Premiere and it should be fixed.
