The script starts, but it indicates failure with the "failed!" message. But it starts.

So if I pass it "restart", it says "failed" to shut down the old process, "failed" to start the new one, and then I have two instances of it running.

This only happens on my server, which is running Mandrake 10.1 or so. On my laptop in Kubuntu, it works fine.
It should work out of the box, with some caveats. It keeps a log in $prefix/var/log/aamaprotator.log. If it fails to write to the log, then log messages should appear in the terminal instead. Under Mandriva, at least, those messages should be trapped and sent to syslog when started from the init script. Maybe your system is doing something similar?
In the aamaprotator.conf file, there's a section for the mazer script. Um, I think it's there in this version, I may have added it right after posting, though. If it's not there, then disregard this.

If it is, then it's possible that the script is failing because of it. That section gives as the command a path from the current directory to the script in the tarball, and to make it work after installing you have to remove everything in command up to the part that says "mazer.py", because mazer.py is installed in /usr/local/bin. Of course, /usr/local/bin should be in your path. Um, make that $prefix/bin. So if it's picking the mazer as the first map, it might be starting and then quitting because of it.
Another reason it may start and quit is if you installed arma to a non-default location. It searches /usr/local and /usr, but that's it. If you put it anywhere else, you have to set armaprefix in the config file. It doesn't currently accomodate if you installed without the "games" in the prefix. So if you installed to, say, /home/zman as your prefix, it'll search /home/zman/share/games/armagetronad-dedicated and /home/zman/etc/games/armagetronad-dedicated.
Other than those two things, you should try just running it from the command line.

You might make sure it *can't* write to the log file just to get those messages in the console instead. Also, if you run it from a virgin source directory, it won't be able to write to the log file because the appropriate directory is missing to do so.
I've attached the latest version which definitely includes mazer. It also changes the config file included to a different name, so it won't overwrite your working config file when you upgrade.