Benny  Check the following.

1) Cron Job

2) Check the FFMPEG file is set to 777 on permissions.

3) Upload another video, if the video does not transcode the first video that did not transcode may be stuck in the queue. If so you need to delete the entry from MySQL.

3) If at this point it is still not working you need to make sure your host is not blocking FFMPEG from running.