Well.. first of all I think the 'Formatting' thing needs to be {1} - {0} (use spaces) (or {0} - {1} if you want TITLE - ARTIST).
And of course you need to check the 'Enabled' checkbox.
If I read the
documentation about formatting right, the Title box should show %title% and the artist box %artist%. The other two boxes (Album and WM/Id) should be empty.