rel-0-7-8; Preview (sometimes) doesn't work with package fixme

> Remember to cover the basics.  Including a minimal LaTeX example
> file exhibiting the problem might help.

With the attached file, C-c C-p C-d (and saying no to caching of
preamble) doesnt generate a preview for the last equation (or anything
after it).

If you change the maths inside the fixme command (eg change the first
`\Split' to `Split') then things work again...

Emacs  : GNU Emacs 21.2.1 (i386-debian-linux-gnu, X toolkit, Xaw3d scroll bars)
 of 2002-03-22 on raven, modified by Debian
Package: rel-0-7-8

current state:
==============

Output from running `gs -h':
GNU Ghostscript 6.53 (2002-02-13)
Copyright (C) 2002 artofcode LLC, Benicia, CA. All rights reserved.
Usage: gs [switches] [file1.ps file2.ps ...]
Most frequently used switches: (you can use # in place of =)
 -dNOPAUSE           no pause after page   | -q       `quiet', fewer messages
 -g<width>x<height>  page size in pixels   | -r<res>  pixels/inch resolution
 -sDEVICE=<devname>  select device         | -dBATCH  exit after last file