So I have been editing with Sony Vegas since years already but this problem has never occured to me before, so I would greatly appeciate some help. Thank you!
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As there seems to be a red bracket displayed, you are probably in the newish Expanded Edit mode (See online Help).
To exit Expanded Edit mode and return to the previous window layout; perform any of the following actions:
Choose Edit > Select > Exit Expanded Edit Mode.
Press 5 on the numeric keypad.
Double-click the event edge.
Deselecting Expand track layers (Right-click on the track header first) helps as well, but you still see red, if you are in EE mode.
Last edited by vkmast; 23rd May 2016 at 15:34.