No, if you get this error message, this means you have not decompressed the file right, or you have separated the project file (.aep) away from it’s directory.
All After Effects templates projects must be in the same directory with the “footage” folder too.
So unzip the file as is – do not separate the contents!
Check this image to see how a normal directory should look like after unzipping:
Also here is a video tutorial on how to fix the missing files error for all projects (not only templates): https://www.youtube.com/watch?v=hptLKZmi1qc
IF this did not work, then there’s another 2 possible reasons for the error:
1. The file got corrupted during download (Solution: Redownload from http://videohive.net/downloads)
2. Your quicktime installation is corrupted or missing (Solution: Redownload & install quicktime from https://www.apple.com/quicktime/download/)