Ive done it before and had to zoom all the way out to see that I had the PunchIn turned on, other wise it didnt show up.
But if your seeing it record and then drop out, you should see the red line in the time ruler.
Weird, havent seen this prob yet, Ill be watching to see what ya find.
I know every once in a great while mine might get a little screwy and Ill have to save, close and restart to clear things back up