Mac OS X:
Mac Intel / 1GB of RAM / 30MB of Hard Drive Space
Windows 7 (64-bit), Windows 8 (64-bit)
Pentium 4 2.4 GHz or faster (or AMD equivalent) / 1 GB of RAM / 30MB of Hard Drive space
Adobe Premiere CS5, CS5.5, CS6, CC, CC 2014
Adobe After Effects CS5, CS5.5, CS6, CC, CC 2014
Apple Final Cut Pro 7
1GB of dedicated VRAM is required for HD footage, or 2GB of dedicated VRAM for 4k/high resolution footage is needed.
Since Magic Bullet QuickLooks Free is no longer updated/maintained, if it's running a host or operating system outside of these specifications, the program will not be guaranteed to work as it's technically in an unsupported environment.