First things first, the software does recognize my microphone (Blue Snowball) and I do have the "Record Microphone" setting turned on. The overlay does indicate that the microphone is active.
Those things being said, there is no microphone audio in the recordings. I tried turning up the levels just in case but there was still nothing. I'm not really sure what else I can try so I was hoping someone else had any ideas.
Re-installed drivers, started working.