DIY mpg handwheel for USB mach3 board

I need some help here; I'm making my own MPG pendant. I'm using this 80mm mpg handwheel and this USB mach3 board. I know the wiring is correct, ports & pins configurated as you can see in the attached images, input #1, input #2, input #3, input #4 checked, encoder 1, MPG#1 checked.
Looking at the diagnostics window I know I have signal in the input 3 and input 4, but looking at the settings info window, MPG diagnostics, nothing moves.
Any idea about what I'm doing wrong.