WOW! Chasing timecode is not an intuitive thing to set up. But I finally figured it out.
My timecode goes into an Aquila which is connected to the PC via a USB/serial adapter.
1. In Grid Mode - Settings/SMPTE Controller Settings: ENABLED select the correct COM port and timecode rate.
2. In Grid Mode - Settings/Configuration/Timecode: Timecode Routing - Automatic.
Incoming Timecode - Enable Midi Timecode (I'm not sure if this is needed for my set up)
3. In Timeline Mode - File/Show Properties: Timecode input ENABLED (I subtract 1hr from incoming TC)
Then when you are in Timeline mode, and you play smpte, any programming on the timeline in the area of code you are playing will be displayed in sync.