James Zandreiatti -  yes, its fixed.  I just saw this.   There were a few main pinch points.  You said you're using a shared ? or are you using a VPS? or is your server dedicated?

1. I had to tweak memory limits in php, at the main level of the system wide php, because the phprc was not being respected for the user level.  (this is a config issue with different versions of php running domains as virtual hosts..)  not an una problem.
2. also, i had to add this ini_set flag inside /inc/utils.inc.php that baloo had pointed out, which limits the total amount of concurrent memory una is allowed to lock for transcoding purposes.  I've set it to roughly 3x the size of my max upload size, but I feel I can reign this in to 2.2x, just have not tested out that configuration yet to validate it.
3. also, it was necessary to set a max_execution_time =  flag in the php config.  i set mine to 500 seconds.
4. also, i had to clear the mysql table for the transcoder, and clear the una cache.
5. also, it works much better running APC for cache, versus file cache.  if you know that you have a version of php in the 7 series as your version of php, you should have APC configured already by default, in the webserver, without having to turn anything on...

i have dedicated server access, if you have the ability to ssh , these are things you can check into, but if you are on a vps you may or may not have the permissions to change them, if you are on shared, then you will have to email your webhost about making these changes for you, because they could have disasterous effects on the rest of the users websites that run on the same box as yours.