Often times devices take a second or more to respond to an IR command so you will need to insert a time delay in between IR commands in order to make your macro work - for instance:
Netflix Button:
Power On TV
Time Delay - 8 seconds
Input HDMI 1 TV
Menu Main (Home) Apple TV
Menu Main (Home) Apple TV
Menu Main (Home) Apple TV - make sure it is at the correct starting point in the upper left of the first page
Time Delay - 2 seconds
Cursor Down
Cursor Enter - Netflix is my top left option (you can reorder you apps if you want in Apple TV)
Time Delay - 8 seconds
Cursor Enter - Selecting my account
Time Delay - 5 seconds
Cursor Down
Cursor Down
Cursor Down
Cursor Down
Cursor Enter
Now I am in my Netflix Queue and ready to pick a show. You may need to tweak slightly - you can adjust any macro by selecting to "Edit Button Function" via the edit button.