No, I turned it on in that specific timeline using CMD+0. However, when I couldn't get it to work, I changed it to default in my user prefs as well.
Here's an interesting tid-bit. Even though it was checked ON in the sequence settings, when I clicked on that triangle you mentioned, it was NOT selected. Though, when I checked it on there, it still didn't show up.
It shows up fine on the FCP 6 machine at work, and on my other FCP 6 machine at home. Just not on my FCP 7.
Andy