AME Watch Folder Status hangs on Automatic

I have moved a QT Movie into a watch folder. The queue appears and the status is selected as "Automatic". Then nothing happens....

The controls above only offer "Stop" and "Pause" I have it set to "Auto-Encode Watch Folders". The encoder presets are all greyed out and only the output file column is active

This watch folder works normally when I use it with Premiere. The QT movie in question was created in another NLE, but was encoded as ProRes422. I have dropped other QT movie into the watch folder with the same result...The status never changes from automatic. Anyone have any suggestions?