Hi,
Pls. check whether the port channel is up on both ends. check the trunk and allowed vlans(if any) configuration.
Are u able to ping with only one interface in ether channel either side?
If one of the interface is down then also the port channel should work, thats why port channel also used for the redundancy. Please re-check the channel configuration.
Rate if it helps.
Regards,
*aijaz*