Burn-in timecode not working CS5.5

Hello!

I'm running Premiere Pro CS5.5 on a Mac with OSX 10.7.1.

When trying to overlay timecode on a video, nothing is showing up in the Program viewer after applying the timecode effect. The effect does appear under the Effects Controls tab and will allow me to make adjustments, but the timecode is not visible on the video. It's as if the program knows what I want to do, but just won't make the effect visible.

I have reinstalled the program and checked that Helvetica is installed.

Any thoughts?

Thanks!