I normally use a PC, but recently I worked in a studio that used a mac, so I installed Cubase 7 - the final update before 7.5 - and found that the audition tool did not work.
Has anyone else had this problem?
Works here…
Really helpful. 
OP, see if Control Room is enabled.
It actually works regardless of whether the CR is enabled or not.
From the manual: “When auditioning with the Speaker tool or Audition icon, audio will be routed directly to the Control Room (Cubase only) or to the Main Mix (the default output bus) if the Control Room is disabled.”
Is VST Connections set up correctly?
I was recording 24 mic inputs. Record and playback worked, so I would imagine I set up VST connections correctly. Normally I prefer NOT to use software monitoring (instead routing ins to outs in the converter and sending them to the console or whatever for cue mixing), but I could not get that studio’s system to do it. I don’t know why, and I didn’t have time to find out. They normally use software monitoring with PT. So I went with he flow and made it work. But even when I turned off the software monitoring it still didn’t work. i dabbled with the CR for a moment - I had never used it before because, as I said, I don’t like to have the computer do anything but record during a session.
…And I just now tried enabling the CR and it does indeed seem to make the audition tool not work. I wonder why.
I seem to be having this issue on Mac also from out of nowhere. Been working fine up until today. VST connections is set up correctly with the Main Mix assignment. The click is also routed to the Main Mix assignment and can be heard ok. But preview/scrub isn’t working. Im out of ideas??
EDIT: It appears that someone in the studio had turned down the volume fader in the Import Audio File dialogue. I wasn’t aware that this was linked to the speaker preview tool in the project window. At least I couldn’t see anything in the manual about it. Anyway hope that helps someone.
Fighting with this problem right now, anyone have an idea of how to fix this. I have audio routed thru my MOTU 2408 and when I open control room it shows audio activity but nothing passing thru to my outputs. Aaaaagh!!
Wait…got it. That whole gotta set up control room thing. I need to make sure I redo my template.
disable the control room