Android Studio 0.4.2 was working fine and today I opened it and almost everything was red and the auto-completion had stopped working. I look at the imports and AS seems to
Thought i'd throw this out there too:
the thing that worked for me was changing my build variant back to a variant that was working previously. For some reason i had changed this before (and i forgot why).
either way, the best thing to do is to try to remember what you changed that day (it could be something as minor as cleaning, or going back to a previous git commit)...etc.
it also helps to try to resync gradle and force a rebuild.