My research around the forum suggests that there IS a bug for this, but only for languages OTHER than english. I beg to differ...
In my case, I have not installed any additional language packs, and the "Analyze..." button in the speech analysis part of the metadata panel is eternally grayed out.
I CAN right click clips in the project panel and select "analyze content" which loads up a speech analysis prompt. Every language but English is grayed out. So, I leave it on english. Click "OK," which opens up media encoder - then nothing. Nothing happens.
Is this a legitimate bug that I should report? Or is there something I'm missing?