Check to see if the AUTO PUNCH RECORDING is turned for a clip further back in the project.
If this came from your friend, he could have been doing a punch near the end of the tune and saved it as a project before he shut off the punch in. So you open it arm a track and hit go.... and it sees the punch so it waits until it gets to the punch before recording.....
As a result, you see good signal, the color change to the track, but nothing gets recorded....you check and the inputs are correct but nothing records...... sounds exactly like that may be the issue.
I've been caught with this same issue more than once..... just look at the tool bar and see if punch is active.