I just installed Debut 5.65 Pro for the first time Win 10 (my first experience with the Debut software) with Hauppauge USB Live 2
I am having the same problem: the source Audio Meter on the Debut application shows audio is received before and after recording but can only be heard during playback of the recorded file.
When checking Settings, System, Sound, Input Device that is shown is:"Hauppauge USB Live 2" and the bar indicator on "Check your Microphone" is moving with the source sound (!).
Checking the sound Mixer, "Hauppauge USB Live 2" is present but moving its volum