Was having the same issue and came across a great geospatial blog from Microsoft employee Johannes Kebeck http://jkebeck.wordpress.com/ and in his post dated November 16, 2013, he mentioned having to set the device capabilities for microphone in your package.appxmanifest (which I had already figured out) but the key was that you also have to allow three DLLs to be activatable.
To do this you just have to manually edit the file (right-click, Open With..., Select XML Text Editor) then add the following below capabilities:
<Extensions>
<Extension Category="windows.activatableClass.inProcessServer">
<InProcessServer>
<Path>Microsoft.Speech.VoiceService.MSSRAudio.dll</Path>
<ActivatableClass ActivatableClas-sId="Microsoft.Speech.VoiceService.MSSRAudio.Encoder" ThreadingModel="both" />
</InProcessServer>
</Extension>
<Extension Category="windows.activatableClass.proxyStub">
<ProxyStub ClassId="5807FC3A-A0AB-48B4-BBA1-BA00BE56C3BD">
<Path>Microsoft.Speech.VoiceService.MSSRAudio.dll</Path>
<Interface Name="IEncodingSettings" InterfaceId="C97C75EE-A76A-480E-9817-D57D3655231E" />
</ProxyStub>
</Extension>
<Extension Category="windows.activatableClass.proxyStub">
<ProxyStub ClassId="F1D258E4-9D97-4BA4-AEEA-50A8B74049DF">
<Path>Microsoft.Speech.VoiceService.Audio.dll</Path>
<Interface Name="ISpeechVolumeEvent" InterfaceId="946379E8-A397-46B6-B9C4-FBB253EFF6AE" />
<Interface Name="ISpeechStatusEvent" InterfaceId="FB0767C6-7FAA-4E5E-AC95-A3C0C4D72720" />
</ProxyStub>
</Extension>
</Extensions>
Save, recompile and your speech recognition will now work.