When the Show Video Monitor button in the Trimmer window is selected, video that you preview from the Vegas Explorer and Media Manager windows is played back in the Trimmer. Because the Trimmer is placed in the same window dock as the Explorer and Media Manager, you will not see your video preview. To preview Explorer and Media Manager video, you can drag the Trimmer to a new dock group, or you can turn off the Show Video Monitor button to preview in the Video Preview window.
Works properly now. The Trimmer Monitor IS a new feature? How do you get to the conclusion that it is NOW working properly? You MAY have got it to work in the way you WISH - but that is not the same as "properly"?
Though I do agree that Vegas is "cool" - That, and the NLE package too!