thank you for the replies..
I think I know where the problem is. I used another sound file, a song, and it works fine. The original sound track I'm lipsyncing onto is a well and clear recorded Mp3 file at 44.000 khz 32-bit stereo. I can see the clear waveform representation in AE, and it's loud enough.
When I import the sound into Maya as 44.00khz 16-bit stereo, or any other setting, the sound is still loud and clear during playback/playblast; but, the waveform representation is so small on the timeline that it's almost invisible, and all I hear is few quiet clicks and pops during scrubbing...
It's like Maya doesn't read and view that particular sound file as is, until I playback or playblast.
My playback speed in Maya is realtime, I used different settings for both wav and aiff file types and the problem is still there. I made the file extra loud in AE, but it didn't help anyway. Don't know if something is wrong with my sound file, or if Maya is not reading it properly. If anyone had a similar problem and can assist me, it's most appreciated