m-audio omnistudio usb

I'm a new mac owner so naturally I'm new to logic express. In the past, I always used my m-audio preamp with my pc in cool edit pro without any problems.

The problem is this: I have updated the driver for the omnistudio. Logic as well as garageband clearly recognize the hardware as indicated by a pop-up. I am able to get audio out but am unable to record anything into either programs. Within logic, does something need to be changed in the audio preferences? something in the drivers tab?

I've changed in/out within the system preferences as well. What am I doing wrong?