AU Lab 2.2.2: where is the clip indicator?

Hi...

I am using the most recent version of AU Lab (2.2.2), and in order to learn best how to use it, I am watching instructional videos on Lynda.com. They're quite good: clear and succinct.

However, they use an older version of AU Lab and the clip indicator does not appear where the instructional video says it will, in Generator 1: Roundtrip AAC.

On the instructional video, the Roundtrip AAC effect has an "Encoded Format" dropdown menu. Below that is a toggle button for "Audition / Listening Test" and below that, is a Monitor button where one can choose "Source" or "Encoded." Below that, is the clip indicator.

When I open a Roundtrip AAC window in AULab 2.2.2, it looks only slightly like what I describe directly above. It has options for "type", "encoding strategy," and "base bit rate." No choice I make brings up a clip indicator.

And I really need a clip indicator so I can shape these files properly for digital release.

I am at a loss.

Can someone please help?

Thank you....