[nsp] HSRP problem

[Roger]

I have two 7206vxr's which I'm attempting to setup w/ HSRP.

On routerA I have the following setup - FYI the two routers can ping 
each others "real" ip address and both "real" ips reside on the same 
subnet and vlan.

RouterA
interface Port-channel1.1
description etherchannel link with vlan1
encapsulation dot1Q 1 native
ip address x.x.x.x 255.255.255.240
standby 1 ip <shared hsrp address>
standby 1 priority 100

RouterB
interface Port-channel1.1
description etherchannel link with vlan1
encapsulation dot1Q 1 native
ip address x.x.x.x 255.255.255.240
standby 1 ip <shared hsrp address>
standby 1 priority 90

Afterwards a 'show standby' on routerA yields the following

Port-channel1.1 - Group 1
Local state is Active, priority 100
Hellotime 3 sec, holdtime 10 sec
Next hello sent in 2.016
Virtual IP address is <hsrp address> configured
Active router is local
Standby router is <router_b ip>, priority 90 expires in 7.336
Virtual mac address is 0000.0c07.ac01
2 state changes, last state change 00:13:15
IP redundancy name is "hsrp-Po1.1-1" (default)

and on routerB

Port-channel1.1 - Group 1
Local state is Standby, priority 90
Hellotime 3 sec, holdtime 10 sec
Next hello sent in 1.662
Virtual IP address is <hrsp address> configured
Active router is <router_a ip>, priority 100 expires in 7.540
Standby router is local
1 state changes, last state change 00:10:19
IP redundancy name is "hsrp-Po1.1-1" (default)

After looking over the above commands I thought I was in business - I 
pinged the HSRP address from router_a and got no replies - same from 
router_b.

I then looked at the arp tables on router_a

Internet <hsrp ip> - 0000.0c07.ac01 ARPA Port-channel1.1

The HSRP ip address WAS present in the arp table. From their I tried to 
ping the hsrp ip from various hosts on the network - still nothing. 
Afterwards a 'nmap -P0 209.94.42.100' to see if that hsrp ip responded 
at all to a port scan.. Still nothing...

I've checked for obvious problems - typos and such. Still I'm coming up 
short. 

Suggestions?