Here's my process, it seems very similar. I have one air pump that I run an open tube directly into my cheese cloth wrapped compost. I use another pump that I attach a medium sized airstone to drop in the water. I've been doing 2 gallons at a time, buying jugged r/o water from the store. Since it's r/o I'm assuming no chlorine? Maybe I should try to aerate it out. I add 15 m/l Hydro guard per gallon. I just add a scoop of zho powder to the mix. And a couple tablespoons of molasses. Put the top on my bucket and cover it with a towel. I've let it go for 2-3 days, with no noticeable difference.
This current batch has been in the fridge for at least 10 days, it has a sweet smell to it, but doesn't smell that bad to me.
I mean the plants seem happy.