Oh, wait wait a minute! Where in the world did you get a green Aquatic Life regulator? That looks great!
That the same bubble counter except it's made for "in-line", and you won't need that o-ring, actually I don't think it even comes with one.
Anyways, have you tried turning the needle valve up? Not too much, just turn a bit and wait, turn a bit and wait, you get the idea.
When the solenoid comes on, it should be producing bubbles in the first 5 second. If not, then you got something clogging it. And if it doesn't get any bubble, then there a huge leak or it doesn't have the required working pressure to "crack" the built in check valve, which I highly doubt that the case.
Oh yo, you sure the nut on the bottom of that bubble counter is screwed on right? It should be completely alined with the bubble counter. Yours is on an angle. First, make sure those screws are set right. If that doesn't work, use a longer tubing and test again. <- Better advice.