Takes on lanes not playing back

I’ve been using Cubase for years, but upgraded to 6.5 fairly recently. So I’m having a problem that might well be due to user error, but I’ve looked at it for quite some time now and can’t for the life of me find a reason why it’s happening - it may as well be a real technical issue.

I’m cycle-recording an audio track (Keep History). I’m still just doing one single take and stop recording after that - however it won’t play back. The audio itself is fine, I can open and play it in the sample editor. When I switch on the lanes it is the only lane (plus the obligatory empty second lane) and it is not muted - but it wont play back. Am I missing something? I’ve never used lanes before, but it looks to me like I should be able to hear something now…
The problem doesn’t seem to happen if I stop the recording before reaching the end of the cycle.

PS: I’ve attached a screenshot of the issue. It shows the track set to solo mode, but the issue happens whether solo or not.
CubaseLanesIssue-2.jpg

Guessing it is.

Not muted by the “M” button and not by the “X” tool… Is there another way it could be muted?
Did you see the screenshot?

Ok, there definitely is something fishy going on. As described, after recording a cycle I don’t hear the recorded track in playback. However if I save, quit and restart Cubase and reload the project the audio is played back as expected.
Now the question is - is this a problem with Cubase or somewhere else (e.g. PreSonus Audio Interface?) Has anyone had this happen before? My system specs are below.

What if you select cycle playing (or recording) off? Keep lanes closed? I don’t see any relation to either of those, but for troubleshooting it helps to know.