There is a Graphical / Display bug in Ableton that has been occurring since version 7 to 8+ when using "Save Current Set as Default" in the Options > Preferences dialogue. This specific bug occurs when saving a template set as the "Default Set" that has Locator Markers theough out the set and the view is set to Arrangement View by default. I work on PC so I don't know if this is also on Mac, but this bug has happened to me on XP, Vista and Windows 7. I have attached a screen-shot of what the default set looks like immediately after opening Ableton using the "Default Set" I described previously using Locators and Arrangement view on startup of the application.
Currently the only fix to this solution is the following:
1. Use Tab to switch to Session View and Tab back.
2. Save the "Default Set" as Session View and then tab over to Arrangement View
3. Have Ableton fix the bug eventually
