I'm using PP from CC. Mac 4,1, quad core 2.66, OS 10.6.8. I want to apply a timcecode window when I export for my client. I add an adjustment layer, apply tme code effect, which appears in the effect controls pane of the layer, but no timecode appears during playback. When the timecode effectis applied to individual clips, it appears. Also tried with a transparent layer, same problem. I checked opacity and position, they aren't the problem.
If memory serves, this was a bug with OS 10.6. You may need to update to 10.7.
According to Adobe's "support," it was a bug in CS 5 that was supposedly fixed by an update. Guess tbey decided to put it back in CS6.