How long is your video? What pixel size? My very short sample and one that is 3:25 worked fine.
The steps I see are Rendering timeline, uploading, generating thumbnail, and preparing for web. While the "preparing for web" is acting, there are big dots moving to show action. Once the "preparing" message is gone, the video appears to load (progress bar), but no video appears until I click the play button.
The rendering and uploading seemed slow. Only a 20MB file, but took 2 minutes to upload.
I noticed I have the issue when accessing the video the fist time via the notification button (the bolt icon). I have to access the video at least one time via the My Projects folder at left to make it works.
I have another little issue though. With some videos in the web plateform it's normal like here one video with 3 versions but in CC Frame.io panel I see 2 videos, the one with the 3 versions (ok) but also the first version alone, it's a little confusing.
We've got some issue with the mechanism that updates that page during transcoding. It may be a while until we're able to fix that particular issue. In the meantime, you should be able to leave the player page and come back to see the clip show up in the player.\