Are we missing any required configuration?
I don't think so, but the id looks very strange to me, can you try with a simpler one?
Also, what error are you getting when trying to save the Component? Please update your question as this can help us pinpoint the problem more easily. But in any case, I suspect the complex ID is the cause of your problem. The ids of all the items and from various ECL providers I have seen so far are much simpler and are in the following format:
ecl:{publicationId}-{mountPointId}-{actualIdOfTheAsset}-{subType}-{file}
where the {actualIdOfTheAsset} is usually an int.
One other thing that might cause issues is reading the actual ecl item through the provider and this happens when you add a reference to it from a Component for example. The ecl item is then loaded implicitly so if an error occurres during that operation, you won't be able to save your referencing Component.
To verify this, try opening the actual ecl item from Tridion (using the tree navigation within a publication). If you encounter any errors there, update your question accordingly.