Thanks for posting. I think this is the cause of the problem, yes. If the log had been truncated, then there are no 'active' transactions to analyze. If you find yourself in this situation, including any transaction log backups in the list of backup files that the new project wizard asks for will help. The transactions that have been backed up will appear in the Log Rescue results, provided you have log backups available all the way back to the specified full backup.