I have a workflow on Opportunity checking the record type and a picklist value, I see it in the debug log as I edit the oppy, but as soon as I pick the value in the picklist that makes the criteria evaluate to true nothing happens and I just see WF_RULE_NOT_EVALUATED!!

The Opportunity WF rule is:

"When a record is created, or when a record is edited and did not previously meet the rule criteria", run when the formula evaluates to true:

($RecordType.DeveloperName = 'Publishing') && ISPICKVAL(StageName, 'Meeting Held')

From the debug log when I set the oppy stage to Meeting Arranged

15:35:20.156 (156288000)|WF_RULE_EVAL_BEGIN|Workflow
15:35:20.156 (156323000)|WF_CRITERIA_BEGIN|[Opportunity: Test Oppy 4 006M0000003XKGE]|Publishing New Task|01QM00000004Upk|ON_CREATE_OR_TRIGGERING_UPDATE
15:35:20.156 (156924000)|WF_FORMULA|Formula:($RecordType.DeveloperName = 'Publishing') && ISPICKVAL(StageName, 'Meeting Held')|Values:StageName=Meeting Arranged, $RecordType.DeveloperName=Publishing
15:35:20.156 (156945000)|WF_CRITERIA_END|false

 ... evaluating to False as expected.

Now when I set the stage to Meeting Held I expect it to evaluate to True and do all the emails, tasks, field updates etc.. but nothing happens and I just see

15:35:40.146 (146234000)|WF_RULE_EVAL_BEGIN|Workflow
15:35:40.146 (146268000)|WF_CRITERIA_BEGIN|[Opportunity: Test Oppy 4 006M0000003XKGE]|Publishing New Task|01QM00000004Upk|ON_CREATE_OR_TRIGGERING_UPDATE
15:35:40.147 (147065000)|WF_RULE_NOT_EVALUATED

Can anyone explain this, I have no idea whats going on, I've got the right record type and the right picklist value to run the workflow but nothing is happening.