Dynamic email subject and dynamic text not working?

I created a custom report that pulls in all contacts with Lead Source = Trade Show. When Trade Show is selected in SugarCRM, another data field appears that is populated by a drop down list of possible trade show values. The custom report filters for three specific trade show values. This generates a list of contacts that have Trade Show as a lead source and one of three possible show values. I used this list to create three segmentations with the goal to send out one email, that acts dynamically to personalize some of the content based on the show visited.

I created an email in a nurture campaign that has a dynamic subject line and some dynamic body text tied to the three segmentations. When I check "Preview Variations" it will only show the default text even if I choose contacts that meet the requirements of the segmentation.

I'm not sure where the disconnect is happening. Help?