Initially, what I was presented with in Org-Mode was an empty box where the equation should have been. My *Messages* buffer showed the following.
Cool. DVI file failed to be created. But why?Wrote /Users/brian/Desktop/Notebooks/temp/foo.orgCreating images for section...Failed to create dvi file from /var/folders/0l/75r2j43x6f1_5k3l9st73j480000gq/T/orgtex19727pJV.texCreating images for section...doneUnable to load image (image :type png :file /Users/brian/Desktop/Notebooks/temp/ltxpng/foo_057ff709818f1d42b80c9f41f8ebc70d5d4bb806.png :ascent center) [16 times]
Manually building the above LaTeX file yielded another hint:
! LaTeX Error: File `ulem.sty' not found.
Type X to quit or <RETURN> to proceed,
or enter new name. (Default extension: sty)
Cool. A missing package.
Installed texlive using MacPorts. Problem solved.