I mentioned the first to Herbie: Apparently the pointentity doesn't precache sound files, so anything that isn't precached by other means (like, for example, by having an ambient_generic with the same sound hidden away somewhere) will simply not play. On top of that, you can't see or modify the max audible distance in the 2D/3D render windows, any editing has to be done through properties and to check the area of effect you need to use an ambient_generic or the like.
I think I included the precaching part of the teamsound entity in the wrong commit, so I don't think Candles included it. I also changed the fgd to display the sphere based on the sound radius property.