Your Vision:M is an MTP device and it should be transferring the playlists as an abstract playlist type (*.pla; you most likely will not be able to see these physical files using browsing/explorer software but the playlists should appear on the device).
There are two ways to transfer playlists to the device using MC:
1) In the lower left corner of MC is the action window (AW). In it, pick 'Handheld Player' and select the Vision:M (if there is more than one device connected). This will open up a handheld AW. Drag a playlist from the playlist tree and drop it on 'Drop Files Here' in the handheld AW. Hit the Transfer/Sync button. (Do not drag a *.zpl file to the AW - that will not work.)
2) In handheld options, select the playlists you want synchronized to the device. Synchronize.
If you are using one of these two methods and you're still not getting a playlist try the following.
1) Reformat the device.
2) Update the firmware.
3) It may be failing to do the playlist transfer because all the files are already on the device. Try deleting one of the files from the device to force a transfer. (If this is the case, let us know.)
Regards,
Rick