Mipmap view not working in editor.

I'm trying to use the mipmap view in the editor, but it's not working.

I've read that using deferred lighting can cause this issue, but I'm using Unity Free, so I know that's not the issue (I double checked just in case though).

RGB, Alpha and Overdraw views all work fine. I don't know what's wrong. Here are the settings on the texture I want to use the mipmap view for:

Any ideas? This is driving me nuts. PS: Unity 4.6.0f3