Megui appears to encode video when the "don't encode video" option is checked in "encoding setup" under the "one-click configuration" dialogue.
At the moment this option is only supported for MKV to MKV conversions (for other conversions there will be an entry in the log saying that this option is not supported). See the changelog for build 2000:
"[One-Click] if the source is a MKV file and target container is MKV the subtitles will be copied
[One-Click] if the source is a MKV file and target container is MKV the video track can be copied. Feature request #3024414
added therefore a "Keep original track" checkbox for the video in the settings"
Nevertheless this will be extended in the future. For a first impression of the new OneClick tool you can have a look here:
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