The video was brought in through AJA, but the Timecode Track was not selected. So I went into the Movie Properties of QT 7 and turned it on, with CatDV open… The video I was selecting the Timecode Track for was in a different catalog and not selected in CatDV.
In response to the previous answer from Walter… If you select Timecode Track in Movie Properties (to turn it ON first since it wasn’t turned on when it was captured, not just switching from the counter) it asks if you want to save it before you close, so it forces you to resave.