Reply to Traktor Pro 2 waveforms broken?

I'm running Traktor Pro 2.0.3 on Windows 7 64-bit (for prepping/beatgridding tracks) and when I imported my first track, the waveforms apparently are "broken"... according to the track waveform at the bottom, I should be hearing the kick drums (pink) but the track is still playing the breakdown (green):



Here is the same file on TP2.0.3 on Mac OS X Lion:



Has anyone else seen this? Is this some funky setting?

Thanks!

Best Regards,
Daniel