Re: Vegas 11 Pro - Can't see preview in the FX edition.

Forgive me if I misunderstood your question, but based on the screen shots you posted, it looks like you are expecting the preview for the FX to appear within the FX window. The preview of the impact of the FX appears in the regular preview window that you see when playing the timeline. (The pan/crop window does show an image along with the pan/crop controls, as you illustrated, but the FX window does not.)

The FX window may be covering up the preview. Did you try moving the FX window to another part of the screen (or dock it, or make the FX window smaller) to see if the preview window is hidden under the FX interface window?