Missing objects in timeline when updating SL1 courses to SL2

When I opened an SL1 course in SL2 it prompts to automatically convert it.

After converting it, I noticed that objects in layers do not appear in the timeline; but appear on the slide layer. However, when I try to select an object, it can not be selected.  I also can not see the audio clip inserted in the slide layer.

Is this a known bug when converting .story files?

 

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