yeah mine doesn't go into standby with the select/play button. i've got my harmony setup so 1 button turns on tv, receiver, and appletv. i'd say 75% of the time this works fine, but the other 25% of the time the appletv doesn't turn on (or off). the worst part is since the power button is the same as select play, i've started movies that i didn't want to watch just by turning my system on and off. i had to watch ironman wednesday night despite having to study for a test the next day. wasn't happy about that. thats what happens when apple tries to "cram" as few buttons as it can on a remote.
The new ATV firmware added a few functions to the pause command, so you have to be in the main menu (home) on ATV before shutting down by holding down pause. I guess a Harmony macro like <menu><menu><menu><pause5> might work.
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