I designed my website using Flash 5 and everything seemed to be working fine
for awhile...I created it about a year ago. Recently, I opened my Flash 5
file to update my images and content and the stage is just a blank gray. I can
see the images in the Library, but there is NOTHING on the stage. Does anyone
have a solution for this? I've also tried opening other files, and the same
thing happens!!! please HELP!!!!!

Here's a wild guess, but it could cause that effect.

Assuming that somehow the box to show a layer as outline was active, and that
the color chosen for the outline was the same as the background, nothing would
show up. Hope its that simple.