When zooming in the peaks disappear.
I believe this is a bug that is related to
http://forum.cockos.com/showthread.php?t=140870
In that there seems to be different peaks for different zoom levels and when using mp4/mp3 the zoomed out level peaks is calculated wrong.
Please look into this, 99% chance it is a simple fix.
1. Zooming should not cause positioning issues (yet it does)
2. This bug shows that the peaks disappear at a certain zoom level (I bet the same level that the other issue happens)
3. Given 2, this strong suggests that multiple waveforms are generate(sort of like mipmaps).
4. With 1 and 3, this suggests that one of the waveform levels are generated wrong in some cases.
5. Given that the more zoomed in waveform is generated properly, suggests that this is a bug... Since the lower resolution waveform could be easily generated from the higher resolution one which would not have the positioning issues.