OK, I solved the problem of "Toast Extras menu, "Roxio Video Player" is dimmed out".
Once I selected that I wanted to make a Blu-ray disc, this option became selectable.
Remember, my goal here is to preview the final result from Toast 12 before burning a Blu-ray. I follow the directions using the link below on Apple discussions. However, when steer "Roxio Video Player" to my ".toast" file, it is dimmed out, and cannot be selected.
I'm wondering if, "Roxio Video Player", is looking for some type of file other than the ".toast" file, and what that file type might be, and how I get it. In Toast 12, if I choose, "Save Disk Image" I get a .toast file.
Please see the directions from "David" below.