Layer Disappears with "Create Clipping Mask" Above a Vector Shape

I'm working in Photoshop CS3.

If I have Layer 1 with raster art laying on top of Layer 2 with raster art, I can select Layer 1 and choose "Create Clipping Mask" from the *Layer* menu. Then, Layer 1's art is only visible in the places where content exists for Layer 2. This is what I expect.

But if Layer 2 is a vector shape and I do the same procedure, Layer 1 disappears entirely. Which is confusing because this used to work fine in Photoshop CS1. Has something changed?

I don't want to create a separate vector mask that I apply to Layer 1 for two reasons. First, I may need to change the shape of the art on Layer 2 and I don't want to then have to manually reapply the vector mask to Layer 1. And second, the edges where the two layers overlap may have some slight discoloration since Layer 1 is rather light in color and Layer 2 is rather dark. And I am all about the purity, know what I mean?

Soooo... am I supposed to be doing something else in the new, modern PS3? Or has this useful function been taken away permanently?

Thanks in advance for any help!

But wait, there's more FUN to be had:

I went back to Photoshop CS1 and created a file with a raster layer clipped above a vector layer. I then saved the file and it opened in Photoshop CS3 just fine. The layer was clipped correctly. I can even move the layers independently, unlink the Clipping Mask effect and reapply it. It works just like it did in Photoshop CS1.

BUT if I try to save this file, PS3 crashes. Every time.

But if Layer 2 is a vector shape and I do the same procedure, Layer 1 disappears entirely. Which is confusing because this used to work fine in Photoshop CS1.

Works fine here.
Try trashing your prefs?
What is your OS?

Well, I had to do a complete uninstall, reset prefs, resinstall, reset prefs for the whole CS3 suite, but it finally works. Thanks for the assist!