The Priv Remake Team has created a program to fix game saves that were affected in the 1.1 to 1.2 upgrade. This utility should not be used if you have not experienced any problems continuing the story campaign or are just upgrading from version 1.0. You can grab the small program here. Unzip the downloaded file into the main Priv Remake directory, and it should replace campaign_lib.py in the modules subfolder. Always back up your files before replacing them.
We suspect damaged savegames only comprise about 1/3 of all savegames, and we would discourage the use of the tool with savegames that have not experienced campaign problems to avoid backwards compatability issues with newly created savegames. Any users upgrading directly from 1.0 have no need for concerns about their savegames.