When I simulate 3 axis machining, I see the stock and the cuts that are being made. Should I also see this in 4 axis? I currently don't although I have selected stock and the tool paths are correct for the stock I've chosen.
Yes, what you are seeing is how madCAM currently behaves with stock removal simulation. I believe that material removal for indexed cuts is planned for the future using new OpenGL technology.
(Note: The opinions expressed in this post are my own and are not necessarily those of CNCzone and its management)