At my wit's end! This just started for no reason couple of days ago. Suddenly, my waveforms are only visible while dragging to new location, then they disappear when I release the mouse.
Things I've tried to fix it - recompute waveform picture, edited aud.ini, deleted picture cache, deleted audio data, assigned new directory/drive for picture cache, system restore on PC (Win7). I vaguely remember this happening a few years back (on same PC/operating system, and it was a quick fix, but I don't remember how I did it. AARGH!
Any other ideas I should try?