I'm not sure what you're missing. Building the attached file here (w/ v. 4.6b), gives the following output:
Building project step 'create file'...
Building project step 'create file'...
Building project step 'process files'...
Loading a list of matching files...
Processing file 1 of 2: abc.log...
Building project step 'show it'...
%PROCFILES_FULLPATH% = c:\temp\loggedin\abc.log
%PROCFILES_FILENAME% = abc.log
Building project step 'process files'...
Processing file 2 of 2: xyz.log...
Building project step 'show it'...
%PROCFILES_FULLPATH% = c:\temp\loggedin\xyz.log
%PROCFILES_FILENAME% = xyz.log
Building project step 'process files'...
Done processing files
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