Hi,
In the above screen-shot your storage type is HTTP Content Server, with that it implies your are setting up an HTTP Type Archive connection rather than RFC Archive.
Can you click on Full Administration and check if everything is maintained?
Please check the following:
1) Basic Path & Physical Basic Path are on SAP Systems
2) Archive Path & Physical Archive Path are on Archiving Server
3) Correct HTTP Server & Port Number (i.e. Archive Server's Connection Parameters)
4) Archive Server is available at the time of connection test
5) Archive Server Port is reachable from SAP System at time of connection test
6) Have you done the Archiving Server specific configuration in the SAP System? If not please refer the OTEX Archive Server Configuration Guide and perform all the listed steps. To name a few you will have to do=> BC Set Activation, Number Ranges, Handling of Communication Protocols, Setting up Archiving Devices, ArchiveLink Job, RFC Connection from SAP System to Archive System, Maintain Archives in SAP (OAC0) , Creating Archive on OTEX Server, Storage Tiers, Disk Volume, Pools etc.
Most importantly as you have created an HTTP Archive T5, you must also create T5 on Archive Server along with the necessary linked objects such as Pools, Disk Volume, Storage Tiers etc. You will also have to exchange certificates between these two systems for the Repository Archive you are configuring, after which only your archive connection is complete in all terms and ready to be used.
I suggest, you first have a one good hard look at the configuration guide, its comprehensive and mentions everything that needs to be done under the sun to setup Archiving Solution in context of configuration.
Regards,
Akshay