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Custom Segment - Add saved search to field validation & defaulting tab

I am trying to create a custom segment to track vendor/contractor payments for their contract period. Created some new fields to a custom record type, which displays the contractor's tracked information. The highlighted field below pulls results from the saved search.

Here is the screen shot of the field.

When I run the saved search highlighted above, it gives the correct results. But the result does not display on the custom segment value page. Nor does the 'balance to be billed' field which has a formula.

Could anyone look at the screenshots and figure out what is wrong?

Regards, Jyoti

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