The Luxos U (which some people call the Lumotec IQ2) has a rectified rear light output (i.e. It only sends one half of the AC wave). Some rear lights only have a half-wave rectifier, meaning it only takes current from half of the wave. If the halves don't match then you get no light output. As mentioned, easily solved by reversing the polarity - there's no harm in this as all components are designed for the messy AC output of a dynamo.
It's possible you have a problem with grounding if you have a metal frame. The Luxos U definitely isn't grounded, so you can test this by unbolting the rear light and seeing if it suddenly works. This is unlikely, but I can just about envisage a scenario where it might be prevent the light from working.
Failing that, check your cables for damage and continuity.