Based on what you have said there are three possible problems, incorrect wiring, incorrect video settings or the video output levels are too low to drive your monitor.
Taking the latter first - turn up the brightness on the monitor and make sure you still don't have a picture. The ArcadeVGA card outputs lower signals than a normal arcade PCB which means the monitor may have a very dim picture (or even no picture at all). If this is the case you will need to by the video amp from Ultimarc.
Incorrect wiring - disconnect all but one ground, and the r,g,b and H/V syncs. assuming you get at least the ground, one of the r/g/b signals and the h/v syncs correct you should see some picture. If not double check your connections and possibly swap the h/v wires. Once you have a picture you can connect the other wires (making sure you don't lose it again).
Assuming you have checked the wiring and it all looks ok, check the configuration settings of the arcadevga card - can't help on this since I don't have one yet. Try plugging in a standard vga monitor, if it works them the settings are not correct for your arcade monitor (but at least the card working)!
I am sure you have done this but check the FAQ at
http://www.ultimarc.com