OK, I can see the Master Track view up at the top of the track view when I select that option, but it doesn't show the actual wave form view - is this just not available?
I had this same problem. I was used to seeing the actual waveform in the track view in other DAWs. I found that there is a bar at the bottom of the tracks that controls the view of the waveform (it is a scroll bar, but it's not quite a scroll bar, it stretches)...condensing it so you can see it. Right above the clock. No rendering is needed to see this.