The right meter works both VU and tune. Did you check and see if any action in tune mode? If no, then I suspect you have an issue with the meter. Not sure why you didn't check that before posting here. Ways to check: 1) ohm the meter and see if there is continuity. It's merely a coil and can burn out. 2) check to see if the needle moves freely. Like Reli says, many meters have adjustment screws for backlash. If too tight, wont' move. If too loose, easy to jar loose and get jammed = won't move. If rusty or corroded = won't move. 3) apply small amount of voltage, if you have an adjustable lab power supply. Start small, like 1/2 volts & work upwards incrementally. I would start with the known good meter and see how much voltage it takes to elicit a response, then apply same voltage to suspected bad channel meter.
You checked and said meters have voltage but you checked for voltage several components down the chain, and didn't check AT the meters? Why???
You indicated correct voltages at IC102. But what IS the correct voltage, and what kind of IC is it?
Your measurements... did you check with AC or DC mode? Audio signals are AC but meter can only read DC.