Making sure you don't have the type tool active hit the W key. This toggles the view setting, I'm guessing you're in the Preview mode, not Normal.
I would draw out the glue areas using the Pen tool and fill them with a distinctive and unattractive colour. I would then put the glue marks on a layer all for themselves and set that layer to be nonprinting.
I'm using InDesign CS5 (7.0.3) with my MacBook (running the last version of Snow Leopard).
The current version of CS5 is 7.0.4, which fixes many bugs. Please update.
This is not related to your guide problems, though.
When you are in Preview mode and you draw a rule guide out it automatically goes into Normal mode. So that shouldn't be a reason for not seeing it.
There are three Things I'd check here.
1. Layout>Ruler Guides and make sure the View Threshold is set at 5% (make sure they're not set to white or something - CYAN is the usual colour for them)
2. And in Preferences>Grids and Pasteboard, make sure they are not set to "Guides in Back"
3. Go to the Window>Layers panel and double click the layer you're currently trying to set a guide on. Make Sure that "Show Guides" is selected.
Or perhaps, simply, trash your preferences.