I must have mucked up the decoding. As long as you're setting them using some interface rather than manually plugging bits off the "Fuse Bits" table I'll assume you have them right, since you've already quoted to me what the settings are and they sounded good.
Hmm.... OK, basics. Are you 100% certain you're looking at the right pin, and your oscilloscope is set up to expect the right voltage and frequency?

Try it with a different pin on a different port, I guess there's always the chance that one's blown.
Set your probe to AC coupling, zoom in to the highest vertical sensitivity and a timebase near the chip's clock frequency, probe directly on a power or ground pin right at the chip package, and see if you pick up clock noise.
Also, do you know how to get the assembly language output from the compiler? (If you're using GCC, give the -S flag. If you're in AVR-Atmel-whateverthehelltheycallitnow-Studio, I can't help you there.) Post it.