It looks like late yesterday TMH started processing it's queue again. However, recent uploads such as http://commons.wikimedia.beta.wmflabs.org/wiki/File:SSA50074.ogv are showing errors of the form:

'/usr/bin/ffmpeg2theora' '/mnt/upload6/wikipedia/commons/c/c1/SSA50074.ogv' -V '160' -F '15' -a '-1' -H '44100' -c '2' --no-upscaling --two-pass --keyint '128' --buf-delay '256' --width '214' --height '160' --aspect '214:160' -o '/tmp/transcode_160p.ogv396b805-1.ogv'

/usr/local/apache/common-local/php-trunk/bin/ulimit4.sh: line 4: /usr/bin/ffmpeg2theora: No such file or directory