Hi Richard,
Thank you for getting back to me and my apologies for not getting back to you sooner.
I did check my setting and I was indeed working off a non Blackmagic setting even though I thought I was.. That solved it.
What I am intrigued by though is why when using a non Blackmagic codec I can still preview anything in the source monitor via my blackmagic card but nothing on the program monitor makes it to the card. I assumed, probably erroneously, that if it can do one window, it should do both. Probably just expecting too much.