I understand this post is old but did you ever resolve the cause of this problem? I’m having the same symptom with a different model card. Like yours, video does not show during capture or playback — yet video is captured. Had to revert to Media Express 1.x to get it working again. Not sure when something changed as system hadn’t been used in a while.
BTW, my apologies if this message shows up twice. I had to resolve a duplicate account issue.
Roger Brett