A layer can still root after the callus has bridged but there is now a connection to the roots so not the same incentive to root and many just concentrate on healing the gap rather than making new roots so lots just don't root after this. Many species don't even need the girdle to root as a layer.
It is possible the original cut was not cleaned well enough. Remnants of cambium on the girdled wood help callus growth to bridge the gap.
You can still clean out the bridge, extend the girdle down a bit further so it won't bridge again and replace the sphagnum and wrapping. Rooting should be quicker now that the tree already has good callus.
A loop of copper wire tied tight under the top cut can help prevent bridging.
Not sure what effect your cool winters will have on layers left on over winter or on layers transplanted just before winter. Has anyone had direct experience with layers through winter up there?