PPro CS4 is my version.
Has anyone had trouble with the track matte key not working?
I have tried an imported PSD file and a new PPro Title and I can't get the target track to show only in the shape of the matte track. Is there some particular sequence or steps that this effect needs to be setup in?
Any troubleshooting steps I can use to find out why it isn't working?
Are you using a hi-con (high-contrast, i.e. black and white) matte or an alpha matte (an image with a transparent background)? The track matte effect needs to be set to match the nature of the graphic layer that you're using as a matte. If it's a hi-con matte, you want to set Track Matte to "Matte Luma", and if it's an alpha matte, you need to set Track Matte to "Matte Alpha". Be sure the effect is pointing to the correct layer that contains the matte graphic, as well.
Is your PSD the Track Matte, or is the Title the Track Matte? Do you have the image that IS the Track Matte above (higher Track) the affected image?
Also Colin's comments will apply either way.
PS - Colin knows his Track Mattes, but he just doesn't like to use them... [inside joke]