3.5 gallery placeholder image not showing up

I’ve updated to 3.5 and I’m trying to add a gallery to a page. Everything is working fine creating the gallery but after creating the gallery the placeholder image is not showing up in the editor and just shows the gallery shortcode. If I update the page and then click on the media button the gallery is not there and there is no way to edit the gallery that was created.

From what I’ve seen the new media gallery functionality adds this placeholder image to the editor and adds a button to edit and delete the gallery, but for some reason these are not being created after I create a gallery for a post/page. Any ideas what might be causing this??