The AM implementation currently does not support changing of presence and bringing accounts online and offline. This needs to be implemented before it can be considered basically functional.
Currently blocked by incomplete ConnectionInterface wrapper class in TelepathyQt4.
ConnectionInterface wrapper is now complete in latest tpqt4 from git, so no longer blocks this. Code is now in place to change the connection's presence when the requestedPresence property of an account is updated, but it is not covered by unit tests yet.