I did some more testing: There is an error in the tooltip syntax that is responsible for this problem. The tooltip for 'cutout size' reads: "the size of the open area you spawn in, in tiles". This is inaccurate: the unit of measure for the cutout size setting is in maze cells, not tiles.
When I set a cutout size that would be reasonable when measured in tiles (say, 50), the maze generator really builds a maze with a cutout of 50*32=1600 tiles, or 50 default-size cells. This gives the appearance of a broken mod until you venture all the way out to 1600 tiles.
Additionally, the size of the ore patches is determined partly by the ratio of usable tiles to void space in each cell. If you set a cell size of 32, and a wall thickness of 16, you will get no ores.
Finally, this mod does not function while using the map editor: this adds confusion by compounding the appearance of a broken mod while attempting to troubleshoot the aforementioned.