I had trouble with my '77 running on, all the hoses hooked up etc... If the Chicagoland club website doesn't have it, I know there is a very good article that goes through how this thing works out there somewhere...
Sorry I don't recall where I saw it, but check the oil pressure switch on the firewall next to the heater box. Mine was sticking and never actuated the anti-run on valve. If memory serves me correctly the easy way to check it is ground the wire that is connected to the oil pressure switch, you should hear the anti-run on valve click and the car should die. You can try it with the engine off, but the iginition on, you should hear the click.
EDIT: I had it backwards.... Here is the text that tells how to test it correctly...
http://www.mgb-stuff.org.uk/fueltext.htm#runonna2
Be careful if you are going to replace that oil pressure switch, I found that the one from Autozone was backwards from the one on the car. If memory serves me correctly the one on the car should be open when you have oil pressure and the one from Autozone would close when you have pressure. If you put the wrong one in there the car won't ever run.
I used some carb cleaner (shot it up into the pressure switch (when it was removed) and just shook the switch until I could hear it rattle. Re-installed it and no more run on!
HTH..
Tony