PMI is turned off by default for performance reasons. To enable PMI translation and see a sample, here is the recipe:
1.) File -> Settings -> General Check Enable PMI Translation
2.) To test, open Program Files/TransMagic Inc/Transmagic R8/Sample Files/CATIA V5/V5Sample01.CatPart
3.) Once the model is loaded, PMI can be toggled on and off using the bottom right button in the bottom toolbar.