Dave,
I am in the same boat as you. My Moto X - easily the best phone I've ever owned - has no luck reading the ring. I've taken the phone out of the Otterbox Commuter case I keep the phone in and the ring still will not work. I am a huge user of NFC tags - I have them in my car, at home, and at work. They ALL work - even with the phone in the Otterbox case. I am quite sad that the ring doesn't work :(
Is there a version of the NFC Ring that has a bigger antenna?