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Works fine when I start a brand new template but if I open up a session recorded in DP5, it wont let me record anything new there. My inputs and outputs are set up correctly (same as when I open a new file) but for some reason it wont record anything. I dont see any signal coming in and the cursor moves but nothing turns red on the track and no audio is picked up. Same holds true if I add a new track or try to record on one that was previously recorded. What am I missing? Thanks.

Try rebuilding your Bundles for old projects (?). Dump your current setup and just create a whole new one from scratch. Save (export) that Bundle setting after you've reconfigured it the first time and then simply import it into subsequent projects as needed to the same effect (a real time saver).