Tevya,
Sorry about any issues you are having. After investigating your bug report i did find an error with the bulk compress function where it was not allowing bulk compress of JPEG’s.
This has been fixed(v1.3.4) but i don’t believe it is the root cause of your issue, for bulk compress should have still worked for PNG’s(tested and confirmed before 1.3 update release and today on a couple of our sites).
Keep in mind that Compress PNG for WP cannot compress an image twice, so if you had already compressed an image at upload or via the media library and you attempt to compress( bulk or single) the image again it will just skip it.
An image will have the text ‘Not compressed yet.’ in its ‘compress PNG for WP’ column in the media library if it has not been compressed and can still be compressed. Otherwise it will display some information about the image size and how much it was compressed. The ‘Compress now’ link is always visible for if you change what size of images(thumbnail, 150×150) you want compressed via settings->media, then you can rerun the compression on the new sizes.
Hopefully this addresses your issue, if your still having problems with an image try deleting and reuploading without the ‘Automatic shrink on upload’ setting and then bulk compress or ‘compress now’ manually via the media library.