A few things since I have experienced this (with a Roland VS-700R interface):
• Do you have a number of virtual instruments in your project? This can make audio die. If deleting or freezing one solves the problem, that was the issue. (You may have to do the next step as well.) I have a ton of memory, but sometimes 7 VIs kills my audio. Sometimes 13 is OK.
• Have you tried starting and stopping the audio engine? It's the icon on the Control bar next to the MIDI plug symbol. The audio engine thing looks like a sine wave.
• Do you have more than one project open? That can make audio go nuts.
• If the MIDI buffer is too small, a MIDI track will appear to play but won't make any sound. (Preferences | MIDI | Playback and Recording | Playback.) Mine is set to 1200.
• Do you have EZ Drummer 2? Version 1 was OK. Version 2 destroyed my audio.