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But when I create a mini track and plop a mini drum
loop it will not play back.
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Ok, this took a minute. I think you mean MIDI not mini. MIDI is data not audio, so to hear anything you need to assign a VSTi to that track (a soft synth or drum machine) to play it through. Check your manual for MIDI operation.
Ah Yes Halion One. This was a free nugget they included in Le4 that may be more trouble tha it is worth. It seems that since you updated to 4.3.1 you now need to uninstll and reinstall Hlaion One. Here are the instructions and a link to the dedicated Halion installer:
HALionOne overview :: Knowledge Base :: Steinberg Media Technologies GmbH
As far as 16 bit versus 24 bit. There have been many heated debates about whether there are audible differences. 24 bit makes the files larger and the computer calculations more taxing. But I have never heard anyone say that 24 bit makes anything sound worse, so it's probably an improvement but certainly not earth shatteringly so.