Next Gen Gallery : Captions not showing up on thumbnails

I am using Nextgen gallery to display some images on my website. I would like to use "Alt & Title Text" as display for captions under each thumbnail

I used the shortcode [nggallery id=2 template=caption] to call a gallery from a page.

From reading various posts, I have also edited the gallery-caption.php with this code:

<!-- Thumbnails -->
<?php foreach ( $images as $image ) : ?>

<div id="ngg-image-<?php echo $image->pid ?>" class="ngg-gallery-thumbnail-box" <?php echo $image->style ?> >
<div class="ngg-gallery-thumbnail" >
<a href="<?php echo $image->imageURL ?>" title="<?php echo $image->alttext ?>" <?php echo $image->thumbcode ?> >
<?php if ( !$image->hidden ) { ?>
<img title="<?php echo $image->alttext ?>" alt="<?php echo $image->alttext ?>" src="<?php echo $image->thumbnailURL ?>" <?php echo $image->size ?> />
<?php } ?>
</a>
<span><?php echo $image->alttext ?></span>
</div>
</div>

Is the above code correct? Am i missing something somewhere? I still do not see the captions show up on the thumbnails on the page.

I am using WP - 3.4.1, NextGen Gallery version 1.9.5 and Atahualpa version 3.7.7

Thanks in advance for your help