Did this get fixed?
It maybe just looking at the preview thumbnail.
What version of C1 are you using to take the picture?
If you use 3.7X it will save as a TIF Raw file, not IQ file.
Adobe doesn't work well with Tif Raw from P25. Oddly for some time it was the same issue with 1Ds files that were TIF extension.
They fixed the 1Ds, but before they fixed the problem, at least for me and my PhaseOne, I had upgraded to Capture1 v6. It saves in IQ and Adobe LR handles it.
laughing at how old the post was vs my response...and why this catagory on the forum?