New captivate: Trying to add captions to video, but captivate isn't showing the wave form.

I was wondering if this is 'normal'. I'm trying to add captions to some videos in my course, and assumed I would be able to see the wave forms to be able to time it correctly to the audio in the video file.

But instead for some reason all I'm getting is a grey bar... and when I try to play the audio to try and time it... it jumps and does all kinds of weird things that make it impossible to retime.  

I tried closing and reopening my file, and same thing. This seems to be a permanent glitch. But if someone knows a work around let me know.