Banners not showing up during battle // Not a preferences issue

Just installed the mod, everything is running fine, however I'm having an issue with unit banners during battles; they aren't showing up.

I've checked my medieval2 preferences folder, and show banners is set to 1, so that isn't the problem. I can't find a similar preferences file in the mod directory, so I'm not sure what the problem is.

Any advice?

Only the main faction banners should be showing - the small 'experience' banners are not provided (invisible).

Only the main faction banners are not showing. I'm trying to figure out how to change that, and as I stated it, it isn't a preferences issue, so I'm not sure what to do.

That is weird. I would still think that adding it to the mod's CFG file might help. Add show_banners = 1 to the video section and try.
Another possibility would be if you changed the name of the mod folder - the path for banners (descr_banners_new) is absolute to counter a quirk of the game, example:

Banner Name="main_spear" MainMesh="mods\Three_Kingdoms\data\banners\main_spear.mesh"