Well, of course the next thing is to measure if the reset line in the selector drops to ground. If you don't have scope, you can still measure it using multimeter. Just change the source code a bit and reprogram the arduino.
There is #define DELAY_RESET 100 in the source. That is delay in milliseconds, put something like 5000 and you have 5 seconds drop on the line, long enough to reliable see it in the multimeter. If the line does not drop to zero, there is probably problem with the board or the arduino. If it drops to the gnd, problem is the reset pin in the multicart.
If the line does not go low, there is also something you can try. Pin next to the reset pin was originally meant to be control line of relay to be able to (with extra hardware) control the ST-V board power, but that was done only in some of my prototype code. Current code basically uses it exactly like reset. So if there is a problem with arduino pin 11 (reset) or the pcb, you can just use the other pin. It is controlled by arduino pin 12 and the 4066 ic.