Adobe Audition Audio Not Record Arm not working

[kgrr5FDE]

1. Adobe Audition "R" for Arm Record is greyed out, and will not let me click it.  

2. When playing back, I can see the audio is playing, but the audio is not heard through my speakers.

[SteveG_AudioMasters_]

You will not be able to arm a track for recording if you don't have a valid input source for it selected...