Hello,
I am a bit confused about what seems to be 2 conflicting displays of signal level.
The Track signal level shows it is peaking, but within the Track compressor, it is telling me that the compressor is keeping it around -6db. (see screen grab).
 
What is the correct way to determine what is going on?
 
TIA.

 

The compressor is also showing red peaks. Lower your attack time to below 10 ms and see if that catches the peaks that must be causing this. 
The compressor will not compress everything if your attack time is to long, a 10 sec spike will get by.  I can see them in the track view.  It looks like you tried to use a volume envelope too. That will work if you have the time. What you have is a more or less badly sung part. I'd think they where to close to the mike or something. I use a hardware compressor in front of my interface for clients who are unruly.  
And for vocals that's a bit severe at 20, I use around 12. 
 

Thanks Johnny V... Lowering the attack time did the trick.
Cheers.
 

I think the balance on the track... pan... was the issue in the picture. You have it panned 43 percent left. This means more signal is in that channel than the right and it pushes that channel into the red.

also, fwiw your image indicates the knee on the compressor ("not peaking"), but you're talking about the output level (right-hand meter) - but otherwise what the guys said, attack and pan

Also, in the signal path, the compressor comes before the volume fader, which you have set higher than 0. So, in theory, you could have the compressor set so that it's not clipping, but the track still would be.

benjaminfrogthe volume fader, which you have set higher than 0.

big no no!

On the face of it Adrian, it would appear that your gain staging is a bit all over the place on this track.
 
As has been noted, your volume envelope is adding 1.2dB of gain, the compressor is adding another 7dB of gain, no wonder it's clipping!
 
You need to back everything off and leave yourself plenty of headroom.