Highlighting layer contents

Hey Folks!

Forgive the rookie speak.

In older photoshop versions, any time you selected a layer from the panel, the contents of that layer were actually 'highlighted' in the workspace - or rather, whatever image was there had its box show up with all the push/pull handles. 

I can't seem to get that option any more, and I'm not sure how to turn it back on. 

Is there any way to revert back to the older interface??

Thanks in advance!!