Personally, I stay in pre-fade metering for 99.5% of my work. The only reason I ever use post-fade is to quickly balance a bunch of similar tracks(like a dozen violin tracks and a bunch of BG vocals). And, as soon as those tracks are balanced, I switch right back to pre-fade(post-fade is simply not a good way to record or mix). Having said that, the meter still should work as you describe(and it does work that way on my rig running the most recent release), so I would look at a few things:
1-IO settings>Output tab, check the Monitor Path, Audition Path and AFL/PFL Path(they should match your main outputs)
2-Options menu>make sure Pre-Fade Metering is UNchecked
And there is always trashing prefs(worth a try for any "odd" behavior).
If you're wondering why I stick with Pre-fade metering(a fair question
), its because I want to know what's going on with the levels within any given track(with post metering, turning the track fader down can mask clipping). Plus, its very possible for 2 tracks to show the same meter level, but not be balanced at all due to frequency content or plugin processing(so try to use your ears more and your eyes less
)