No, you are not doing anything wrong. However the GUI does not ask the probe to execute anything when you click 'View', it just tries to give you the file pointed to in the text box! The View button should be disabled when Command mode is set (and it will be in the next release if I have anything to say about it...and I do

).
The "workaround" if you can call it that is to run the command on the box once, redirecting the output to a text file, selecting 'cat' mode and testing out your watchers until you are happy that they do what you want. The 'cat' mode will simply give you the entire contents of the file pointed to and feed it to your watchers. When you are getting what you want/expect you change back to 'Command' mode and point it to your binary and hit 'Apply'.
Cheers,
Stian