GS,
Many people, including myself, have reported this problem yet SONY can't seem to be able to duplicate it.

Hover the mouse pointer over the bottom edge of the effect window until you see two parallel bars with arrows, then drag up to reveal the keyframe area.

While you're in the open project, from then on, the keyframe area will always show, However, when you reopen that, or a new project, you'll likely see the same problem.

Tom