My apologies, I did not catch the compression question. We only have settings for Archiving. There is no way that I know of to set a time/size for compression. AM has the ability to Archive, Compress, and Archive & Compress. I broke down the log entries you provided and put what I think happened. In my test environment here I only get compression when I manually ask for compression.
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Status 2012/03/21 14:20:05 ammsgapi.c 7680 AMMON 0 Start Quick
Archiving : 20120321.09
Status 2012/03/21 14:20:18 ammsgapi.c 7680 AMMON 0 Finished
Quick Archiving : 20120321.09
Status 2012/03/21 14:20:18 ammsgapi.c 7680 AMMON 0 Start
compressing file : 20120321.05
Status 2012/03/21 14:20:23 ammsgapi.c 7680 AMMON 0 Finished
compressing : 20120321.05
-- Archive & Compress run manually
Status 2012/03/21 15:11:43 ammsgapi.c 7680 AMMON 0 Start Quick
Archiving : 20120321.0a
Status 2012/03/21 15:11:56 ammsgapi.c 7680 AMMON 0 Finished
Quick Archiving : 20120321.0a
Status 2012/03/21 15:11:56 ammsgapi.c 7680 AMMON 0 Start
compressing file : 20120321.06
Status 2012/03/21 15:12:02 ammsgapi.c 7680 AMMON 0 Finished
compressing : 20120321.06
-- Archive and Compress run manually
Status 2012/03/21 23:58:54 ammsgapi.c 7680 AMMON 0 Start
compressing file : 20120321.0A
Status 2012/03/21 23:59:01 ammsgapi.c 7680 AMMON 0 Finished
compressing : 20120321.0A
-- Compress run manually
Status 2012/03/21 23:59:01 ammsgapi.c 7680 AMMON 0 Start
compressing file : 20120321.09
Status 2012/03/21 23:59:07 ammsgapi.c 7680 AMMON 0 Finished
compressing : 20120321.09
-- Compress run manually
Status 2012/03/21 23:59:07 ammsgapi.c 7680 AMMON 0 Start
compressing file : 20120321.08
Status 2012/03/21 23:59:14 ammsgapi.c 7680 AMMON 0 Finished
compressing : 20120321.08
-- Compress run manually
Status 2012/03/21 23:59:14 ammsgapi.c 7680 AMMON 0 Start
compressing file : 20120321.07
Status 2012/03/21 23:59:20 ammsgapi.c 7680 AMMON 0 Finished
compressing : 20120321.07
-- Compress run manually
Status 2012/03/21 23:59:20 ammsgapi.c 7680 AMMON 0 Start Quick
Archiving : 20120321.0B
Status 2012/03/21 23:59:33 ammsgapi.c 7680 AMMON 0 Finished
Quick Archiving : 20120321.0B
Status 2012/03/21 23:59:33 ammsgapi.c 7680 AMMON 0 Start
compressing file : 20120321.0B
Status 2012/03/21 23:59:37 ammsgapi.c 7680 AMMON 0 Finished
compressing : 20120321.0B
-- Archive & Compress run manually
Status 2012/03/22 09:54:13 ammsgapi.c 7680 AMMON 0 Start Quick
Archiving : 20120322.00
Status 2012/03/22 09:54:26 ammsgapi.c 7680 AMMON 0 Finished
Quick Archiving : 20120322.00
-- Archive (Scheduled?)
Status 2012/03/22 10:06:13 ammsgapi.c 7680 AMMON 0 Start Quick
Archiving : 20120322.01
Status 2012/03/22 10:06:25 ammsgapi.c 7680 AMMON 0 Finished
Quick Archiving : 20120322.01
-- Archive (Scheduled?)
Status 2012/03/22 15:19:57 ammsgapi.c 7680 AMMON 0 Start Quick
Archiving : 20120322.02
Status 2012/03/22 15:20:09 ammsgapi.c 7680 AMMON 0 Finished
Quick Archiving : 20120322.02
-- Archive (Scheduled?)