Do you mean the Beatgrid? Its supposed to show you the beginning of a new bar (the red lines) and the beats in between (the white ones)
youre probably zooming out too much on the waveform....use your mousewheel to zoom in more further...that way the grid obviously will expand and you should be able to see whats going on... i am always zooming in the most it can, that way u can also set the gridmarker (and of course the cue points) just perfectly.
EDIT: This should be what you mean? Far zoom
Thats what you see when zoomed in
