Currently the program monitor goes to black when there is no content to display with transparency. i.e. no media/clips under the playhead. This is incredibly jarring if you are making use of the grid while having fades for example because it jumps from black to instant transparency grid to an image fading in.
See attached file for an example.
The transparency grid should always be visible when enabled.
I also think the transparency grid can use some QoL which I pointed out here.