Totally didn't read that or anything before I posted here.....
1. Its definitely on.
2. It is set up properly, I checked this multiple times.
3. Cable components on Xbox 360, Xbox360 can use either HDMI or component cable so it is supported.
4. The wires are brand new, so is the capture card itself, they're not broken.
As you can clearly see I checked that before posting here, I am fully aware of the troubleshooting guide and I decided to make a post here because my problems did not fit any of the questions above.
Your help here by mindlessly copying and pasting has been invaluable.