I think the problem is with your config files, not the stones. The "NTSCDefault" and "PALDefault" refer to partitions on the framestore for NTSC and PAL, respectively. If you open /usr/discreet/effect_6.1.2/cfg/pal.cfg or ntsc.cfg you may find a framestore config in there looking something like:
FrameStore stonefs "NTSCDefault"
If the NTSCDefault partition does not exist, this will give you problems. The fact that you see a message like: (NTSCDefault :non-existent) does indicate that.
The reason you still see the Happy_Meal project might be because the project.rdb file still has a reference to the project. Project.rdb is the project database, you can edit it with jot/nmap.
FrameStore stonefs "NTSCDefault"
If the NTSCDefault partition does not exist, this will give you problems. The fact that you see a message like: (NTSCDefault :non-existent) does indicate that.
The reason you still see the Happy_Meal project might be because the project.rdb file still has a reference to the project. Project.rdb is the project database, you can edit it with jot/nmap.