Well, as far as I can tell, the reason iTunes can't read your rss feed is because there are no <enclosure> tags in your feed. Without those, nothing is going to know anything about your podcast - in essence it's not really a podcast without those tags.
Now WordPress is supposed to gather the info about your mp3s and put it into your rss feed automagically. I notice when I click on your link I am forwarded to some kind of login page. I can get the mp3, but it's possible WordPress isn't able to access it for some reason. For example, I've seen server-side php scripts not be able to retrieve rss feeds from some servers because the script doesn't look like a user agent (a browser or aggregator) to the server that's providing the file.
Perhaps you could try linking to an mp3 that's hosted in a wide-open and accessible location (like in your WP uploads directory) as a test. If that works then I'd say you'd have a pretty good hint that your academy.beautifuloceans.com server is getting in the way somehow.