I know the everything else in the chain works because I have successfully synch'ed using an OTG cable and the same ANT stick.
This procedure works for me:
Quit Garmin Express
Start Activity Monitor
Select "Garmin Express Service"
Force quit (press the x at the top LHS)
Start Garmin Express
Your watch will now synch.
OS X Yosemite 10.10.4
GE v4.1.5 (latest)
USB ANT Stick