The imported clip definitely has audio. However when I create a new composition, the audio is not playing. I checked the waveform, and it's completely blank. Just to double check, I played the clip in Windows Media Player, and I could hear the audio. I think the problem might have to do with my capture software Dxtory, which separates the game audio (the game I recorded had no audio) and microphone audio into different channels. Is there a way to fix this problem?
You will probably need to convert it in an external software. AE simply doesn't deal with multi-channel audio.