Adobe Premiere Pro
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The multicam monitor always shows the targeted track in a multicam sequence. So if you have a nested multicam sequence on track 2, target track 2. If it's on track 3, then target track 3, and so on.
I created a new sequence, and then copied / pasted the video & audio from the "defective" sequence. Multi-camera monitor now works as expected, and my old cuts are still there.