Appears to still be somewhat broken, ex: https://commons.wikimedia.org/wiki/File:09._Гасење_вар_како_силно_егзотермент_процес.webm uploaded over a month ago did not auto-transcode anything (I believe it originally just said "Transcode not required") until I happened to purge the cache and kick off the 1080p transcode with the "Reset" link (which worked). I'm guessing perhaps it error-ed out? Reedy was helping me out and tried to find logs but couldn't.
On a side note, does anyone know how to link to the transcoded version of a video? is it even possible? when one uses link=https://upload.wikimedia.org/wikipedia/commons/transcoded/a/a7/09._Гасење_вар_како_силно_егзотермент_процес.webm/09._Гасење_вар_како_силно_егзотермент_процес.webm.1080p.ogv in the [[File:...|...]] tag, it seems to completely ignore the target.
My assumption was the player would auto-choose/play the version that is compatible with your browser, but it seems like the only ability that is given is to download any transcoded formats. Would be nice if it did the former...