If everything's connected as described it should work, have you tried shorting the two switch pins with something (piece of wire, tweezers, scissors...) and seeing if that registers as a press? Faulty switches are rare but could happen. Another option would be the key being unassigned in firmware, but again this sounds unlikely as it's a position everyone would use...
I've moved the thread in case anyone who's familiar with this board knows some quirks I don't, people with soldering irons may not see it in keyboards.