Does just running converter.exe automatically remove the commercials from all shows on your pc or something? I feel like there should be more command line arguments to it than that.
Open a command prompt and just type in the "C:\Windows\ehome\Converter.exe" command and hit enter. Whatever you see happen (or not) is what is happening when that task is run.
Additionally, if it runs daily, as you tell it to, you only have it enabled to run when a user is logged on, so you would have to be logged on to the computer at that time every day for this to run. I'd change that to run whether anyone is logged on or not, especially if your pc is configured to have a screensaver with a prompt to log-on every time it comes back from it.