Hi Leep,
There is a few things we need to verify in this case.
1) Can you see Analytics beacons being fired from both the page and the iframe?
2) If you are seeing those beacons, do they contain the same 'mid' parameter?
3) If you can see the Analytics beacon being sent from the iframe, does that beacon contain the tracking code?
Once we know the answer to these questions, we can figure out where we need go next.
Cheers,
Jantzen