Codecs are contained inside of special files. A program, every time it detects a certain codec "style" (e.g., Xvid, H.264, Quicktime.mov), it (most of the time) looks to the Windows registry to see what file it should use to decode the video content. The registry will return the location of the files that the program should use to decode, and the program grabs them and attempts to decode it.
Sometimes, different codecs can used to decode the same kind of codec "style". Sometimes it's just a matter of money, other times there are technical differences between the codecs, such as compatibility--sometimes, a codec is made to support certain kinds of programs but doesn't work well with other programs.
I would *guess* that what happened was that whatever codec was being used before got replaced when you installed QT and/or Ulead. Those codecs might not play well with Picasa, and Picasa can't decode the files that use that codec style using the new codec.