If I remember well, the 4 ways valve selector is here to select fuel or P2 air to igniters during and after the start-up sequence. Apparently, in this present situation, the start-up sequence is correct, but for some reason, fuel is not allowed to injection wheel. Strange, as long as the fuel cock cycles correctly...did you check the timing of the sequence? maybe the cock closes too early if it "believes" the starting sequence is too long,(electromecanical thermal contactors..."T5R ?")
Did you try to pull the starter cb just after the micropump light goes off, this should prevent it to close prematurely (sorry for not beeing more accurate but it makes a long time and no documentation immediatly available)