I started seeing this early one. The older thread had some contributions from Bill Jackson of Cakewalk, and one of the recommendations that came out of the discussion was to set Visual Effects to "Adjust for best appearance" under Performance in Advanced System Settings.
Apparently the Now Time cursor depends on the "Enable Desktop Composition"setting, and if you let Windows manage these settings, it may disable this feature on the fly. I haven't had it enabled long enough to be sure it fixed the problem, but even if it does, I don't think it's good that it should be so dependent on having all the visual effects enabled.
I plan to file a Problem Report. The more reports, Cakewalk sees, the more likely they are to fix it.
That other thread for reference:
http://forum.cakewalk.com/fb.ashx?m=2673327