When I create a new closed caption on my video, nothing appears on my images. (I can see the overview on the closed caption monitor but nothing appears on my video)
Closed captions are not sub-titles. They are supposed to be encoded to be able to be turned on as an option by the final viewer. If you want sub-titles you will need to do things a little bit differently. Historically I've just used titles for further control over positioning and formatting.