Multicam sequence with no audio waveform

[in5FAE]

After creating the multicam sequence, when importing to the timeline the waveforms disappear. Before I used to just render and replace but now I can't seem to do that.

[Bruce Bullis]

>...but now I can't seem to do that.

What happens, when you try to render and replace? 

Confirming: You can still see the waveforms for the media within the multicam, when accessed directly?

[in5FAE]

Yes i can

[in5FAE]

the option to render and replace doesn't show