Could you set the Logging to 3 - High on GUI.
Do you see something like this?
Unable to load tray icon.
There are several old bugs related to this:
Here is one: CSCed84982
No lock icon appears in the VPN Client GUI when the connection entry name has a leading space. This appears to be a cosmetic issue. The VPN connection is established. The lock icon does appear in the systray.
Since you mentioned that other laptops see the icon, I would suggest reinstalling the VPN Client or even upgrade to 5.0.04.0300.