You can verify that the converter is working with an ohmmeter.
First, make sure the converter has power. It needs 12-30 V. Second, the format for the converter is "1". No reason to mess with this.
You can then look at all of the output lines of the converter with an ohmmeter. Make sure you use the black wire of the ohmmeter on ground and the red one on each output line. If the converter is working and getting a good signal, some of these will show conductivity to ground. Some will not. If none show a connection to ground, the serial line to the converter isn't hooked up right or the converter is broken.
If some show connection to ground, then go into the EFIS "altadj" and move this around a couple hundred feet. This will change the output of the converter, so some of the output wires will change state.
If all of that is working, something is up with your transponder.