Resolution:
Following is the checklist of things you need to check on UNIX:

1. Must be in superuser mode in order for rvtrace to run (independently or from rtview)
2. In superuser mode, confirm that RV_ROOT is set correctly
3. Confirm that LD_LIBRARY_PATH is set to RV_ROOT/lib
4. In RVOPTIONS.ini (where you are starting the viewer application), the following line is included:
rvtrace.onstart true
5. If you are using RTView Dataserver, make sure that the DS is started in the superuser mode.

If all the above instructions are followed the RVTrace output will be shown on the RV monitor in RTView.