VLC Transcode .ogm - No Audio?

I'm trying to convert a .ogm video so that it can play on my iPod. I'm using an iMac, and iSquint can't handle the file so I'm trying to transcode it with VLC. I followed the directions here: But the file comes out with no audio... Any hints? The video I'm trying to transcode is below, btw. Thanks for any help!

you need to reencode the audio to aac

Thanks for the quick reply. However, I am totally baffled. I've decided to stream it to my other comp to see if I can get it to work before transcoding it to a file. Here's what happens when using the streaming wizard: A) If I stream while transcoding BOTH video to MPEG 4 video, and audio to MPEG 4 audio, I get AUDIO ONLY. B) If I stream while ONLY transcoding audio to MPEG 4 audio, I get VIDEO ONLY. Yes, weird. C) If I stream while ONLY transcoding video to MPEG 4 videa, I get NOTHING AT ALL. I cannot, for the life of me, get BOTH video and audio. I should mention that it plays just fine normally in VLC... Fhew. Any thoughts? Thanks!