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Windows 7 Ultimate 64 bits
K-Lite Mega Codec Pack 690
Winamp 5.57 ships brand new video demuxers & own decoders. As far as I know, subtitle support for avi and mkv containers is still on the todo list.
Older Winamp versions only had a DirectShow decoder, which simply used the installed Windows DirectShow decoders (Klite Pack in your case). This is why Windows Media Player shows them for you and the new Winamp doesn’t. Media Player Classic has native support for subtitles.
For now you can simply uninstall ‘Nullsoft AVI Demuxer’ & ‘Nullsoft Matroska Demuxer’ via Preferences > Plugins > Input. Make sure that ‘Nullsoft DirctShow decoder’ is installed and that all needed file extensions are set in the preferences.
So you will have DirectShow based video playback, like in older versions, which then can use subtitle support from your codec pack.
Thread has been moved to Winamp TS forum, since it’s more a feature request with known workaround and not a Winamp Bug.
No subtitle Winamp Windows 7