In most cases I saw the angle ("L" plug) plugged into the camera and the straight one into remote release. the plugs might be of different size (length) and a millimeter might make difference here.
If it doesn't change anything plan "B"
Basically the idea is simple. We want here to check if everything is right with the cable. It works with a simple mechanism. Three cables one used as common the other two go for autofocus and shutter.
For your device halfway pressed should autofocus, pressed should release shutter and pressed and moved should block the shutter in "B" mode.
There might be 2 options. 1.Your cable is broken. 2. The camera need some special treatment for releasing the shutter like special resistor in circuit. But i don't think so. (I've checked it.)
The quick test use your cable with other Pentax camera.
Without it we need to check the cable. You should check if there is a continuity (using a multimeter) between "sleeve" and "tip". And "sleeve" and "ring" (middle).
I'm referring to this:
If the cable is working. Might be the camera setup.
Here you have how the cables work, to give you a general idea:
Pentax (and others) DSLR cable shutter release from hands-free cell phone kit
and
www.doc-diy.net :: camera remote release pinout list
If the cable works. Double check the camera. You can check it just having simple mini jack and short circuiting pins.