obby R, that sound correct. How are you opening the project? Are there other support files also in the folder? (eg fonts.xml, library.xml, etc) Is there backup, fonts, library, preview, etc folders?

Open WX5, select open project and it should be listed. Is there one of many projects in the folder (have others gone missing)?

When you do your backup, are you using the reliable backup (step5, export project) to create an iwzip file or are you using the dubious backup option next to save (or perhaps some other technique)?

Does you documents folder (which contains the Incomedia Folder) happen to be in the onedrive folder? If so, are you logged in to onedrive?