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I used a sound effect of a camera taking a picture which I found in the Bonus content from the Pro X2 CD software.

It worked fine, however, the next time I called up my project I got an error message stating the it could not "link" up my sound effect.

How do I go about utilizing this "Bonus" effect so that it will always remain in my project?

Did you actually copy the sound effect to the computer? Or if you did, did you move it? All files used in a project have to be readily available when you open the project file. The project file itself does not include video or audio. It is only a small text file telling the program where the video, audio etc are located on the computer.

How do I go about copying the sound effect from the Pro X2 CD to my computer, and where should I paste it?

How do you copy anything from a CD or DVD to your computer??? You highlight it on the disc, right click and choose Copy (or use Ctrl + C), then choose anywhere you like that is logical and you will remember on your computer and right click and choose Paste (or Ctrl + V). There is an audio sub-folder in the VS folder, but it really doesn't matter where the file is on your computer, as long as you can find it!