I only have experience with the Intensity Pro, and use it only for external preview, not capture.
On Win 7, I have never seen external preview of source clips, and seem unable to force it - but that may be the difference between the two units.
Have you ever had program monitor preview on CS5, or is this the result of a recent update? I'm assuming that you have used a Blackmagic codec to create a new sequence. You will not preview Adobe sequences externally through the BM box.
I don't find that Preferences/Player settings makes any difference. By default mine is set to Adobe Player.
Sequence/ Sequence Settings/ Editing Mode should indicated the greyed-out Blackmagic codec that you're using. The Playback Option within the same window should only indicate whether to disable the dropped frame warning or not.
Could it be that you've mis-plugged the monitor output? What type of monitor are you using, and what's the connection to it?
I realized I had not chosen a Blackmagic sequence. Everything is working fine now. Thanks!
I'm having the same problem you encountered a while ago but still can't get my monitor to preview from program & sequence monitor. Have the same blackmagic setup you have.
Just realised what your last comment indicated and have resolved the issue too. Many thanks.