Unable to make Transparency work in Gradient Effect (Gradient Tool works fine though)

Question

Hey guys.
Really weird issue here.
Example: (This is not what I use it for, but this is the easiest way to explain the problem) I'm not looking for other solutions on how to do this, I'm just using this set of steps as an example.
I put a picture of trees as the background.
New layer on top, set paint bucket to black and splash the whole document
Go into Blending Effects for the new layer and then add a half transparent-half solid gradient. (Black to clear, for example)
In my photoshop, it shows up as all black still.
Any ideas on why this doesn't work? I can't seem to find the answer anywhere because most searches end up showing up with different problems other people are having.
Would really appreciate the help!
Computer: i7-930, GTX 580, Windows 7 64-bit, Photoshop CS6 Student
So out of curiosity, I just tried using the COLOR blending effects, and then setting the opacity to 0%. And it STILL shows as a black page.
Is there a reason why my opacity slider for blending effects doesn't do anything but change the effect? (In my older CS4, if I set any color/effects in blending effects, that color/effect would take over the entire layer.)
Is this just new to CS6? (Is there a way to revert this "method" back to the old style?)
Workaround so far.
Seems to work if I drop the layer's Fill % to zero.
I prefer the old method in CS4

Answer 1

I would try resetting your preference file first:  http://www.lightroomforums.net/showthread.php?14226-Resetting-(or-Trashing-)-the-Lightroom -Preferences-file
Also, install the latest version 4.4.1 would probably be a good idea.