There should be 6 clicks on the left shifter and it should pull about .65 inch of cable. Take the cable loose from the FD, put a piece of masking tape around the cable, near the down tube stop and measure the cable pull, if in doubt. As others have noted, maybe you haven't got the cable head seated in the socket.
If the cable is improperly attached to the FD, it will be hard to move the finger lever and only take two clicks to cover the full range of travel. The proper amount is 3 clicks. A 4-click setup can also be made, but it's not quite what Campy intended. The additional clicks are used for a triple FD. Prior to ultrashift, the left lever had 12 clicks, but even a triple FD only needed 7.
I assume that you also know to shift the thumb button all the way down before attaching the cable to the FD and then use the barrel adjuster to apply more tension. I also assume that the big ring limit screw is out far enough to allow the FD to move far enough to the left. This can be tested by hand, without the cable attached.
Bikes with no barrel adjuster are trickier to get set up. To get enough tension, first set the little ring limit screw, so the chain has minimal clearance with the left side of the cage, in the little ring and largest cog. Then deliberately tighten the screw (CW) by 1/2-1 turn. Pull the cable tight, with pliers and tighten the cable clamp bolt. Then return the low limit screw to it's normal position. If done correctly, you'll have more tension on the cable than you could ever get by pulling on it.
Last edited by DaveSSS; 02-05-12 at 01:52 PM.