Larry,
It looks like you are setup ok. But here are a couple of comments/questions:
When you plug the battery, the CC speed control first plays a little tune immediately followed by a number of beeps. The actual number is how many cells the ESC thinks are in the battery. I think you have a 4s Lipo, so that number of beeps should be four.
This first set of beeps is followed very soon after by another little tune. This means the ESC is armed and ready to turn on. This happens when the ESC detects zero throttle. Now if the timer starts up, the ESC will provide power to the motor. If you don't hear the second tune, the ESC didn't detect the zero throttle from the timer, and so isn't armed.
Like Mike asked, I assumed this timer worked with the previous non-governor mode setup on the ESC. But my questions are whether you hear this sequence on tunes on the ESC.