The audio waveform is not visible in the Pioneer DJ workspace when using CDJ3000s. How do I fix this?

In a recent firmware update Pioneer have made changes that prevent waveform display in Titan. While the rest of the feature continues to work, users who wish to see the waveform will need to downgrade to an earlier firmware version. For example, a CDJ-3000 with the v3.00 firmware will not work, while v1.10 of the firmware is confirmed to be working. Pioneer have been made aware of the issue.