I’m having this exact same problem. I’m testing out Premiere to see if my entire edit shop should switch. It’s playing back from the timeline, but then if i match frame or just load a clip into the source monitor i don’t get playback. The odd thing is, every now and then it works. This is the one hang up i’m having on pulling the plug on FCP 7.
Changing the Sequence frame rate is no way an option. Yes it may fix the playback, but there’s no way i’m risking changing it to edit, then forgetting it was changed then sending EDLs to colorists and vfx shops with an EDL at 29.97 and footage at 23.98.
Guess i’ll try contacting adobe and looking into the control panel for black magic.