View set to use imagecache preset but still displays full sized image, imagecache derivative never generated

I created an imagecache preset using the scale and crop method and then set the rotor view to use that preset and also set the rotor size to match. I then added the block to a panel. The image displays, but it's displaying the full sized original (just clipped to the rotor size) not the preset. It also never generated the derivatives. Nor is there any way in the rotor content type settings to force a size limit, so I've got no way to get it to display the image at the correct size. Here's the view export code:

$view = new view;
$view->name = 'rotor';
$view->description = 'Default view for the Botor Banner module - A block that rotates through all Rotor Items';
$view->tag = '';
$view->view_php = '';
$view->base_table = 'node';
$view->is_cacheable = FALSE;
$view->api_version = 2;
$view->disabled = FALSE; /* Edit this to true to make a default view disabled initially */
$handler = $view->new_display('default', 'Defaults', 'default');
$handler->override_option('fields', array(
  'body' => array(
    'label' => 'Body',
    'exclude' => 0,
    'id' => 'body',
    'table' => 'node_revisions',
    'field' => 'body',
    'relationship' => 'none',
  ),
));
$handler->override_option('filters', array(
  'status' => array(
    'operator' => '=',
    'value' => 1,
    'group' => '0',
    'exposed' => FALSE,
    'expose' => array(
      'operator' => FALSE,
      'label' => '',
    ),
    'id' => 'status',
    'table' => 'node',
    'field' => 'status',
    'override' => array(
      'button' => 'Override',
    ),
    'relationship' => 'none',
  ),
  'type' => array(
    'operator' => 'in',
    'value' => array(
      'rotor_item' => 'rotor_item',
    ),
    'group' => '0',
    'exposed' => FALSE,
    'expose' => array(
      'operator' => FALSE,
      'label' => '',
    ),
    'id' => 'type',
    'table' => 'node',
    'field' => 'type',
    'relationship' => 'none',
  ),
));
$handler->override_option('access', array(
  'type' => 'none',
));
$handler->override_option('style_plugin', 'rotor');
$handler->override_option('style_options', array(
  'width' => '456',
  'height' => '515',
  'seconds' => '5',
  'speed' => '2',
  'effect' => 'fade',
  'pause' => 1,
  'tabs' => array(
    'show_tabs' => 0,
    'group_tabs' => '',
    'position' => '0',
  ),
));
$handler->override_option('row_plugin', 'unformatted');
$handler->override_option('row_options', array(
  'imagecache_preset' => '1',
));
$handler = $view->new_display('block', 'Block', 'block_1');
$handler->override_option('block_description', '');
$handler->override_option('block_caching', -1);

Any ideas? Similar settings worked just fine on another server, but we actually built these two servers to be virtually identical, so I have no idea what's going on.