AE CC showing blank preview when opening Premiere Dynamic Link clip.

So I'm running the latest Adobe Premiere CC (2014) and AE (2014). I selected a clip in premiere, right clicked and chose "replace with AE composition." When AE opens and I try to create a new comp by dragging the file down to the new comp button, it shows on AE's timeline, but nothing appears in the preview? It's just all black.

Any ideas? Thanks!

I'm not understanding the workflow the two of you are going through. Screenshots would help immensely.
Also, what format and codec is the footage you're using?

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