Depends on your source. For instance my Tivo S3 won't work for CC in the player but my S2 and S1s do. Course the Tivo S3 has it's own CC so no problem.
Easiest way to find out if your SP2.0 is seeing the extra info in the stream is to do an ALT-Shift-I and go down to the XDS info. If it is blank your source device is not sending that info.
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Also, it doesn't work when I have my Pro HD in QAM tuning mode. I know the CC info is in the QAM stream.