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It looks like you're right and AP1.5 doesn't support batch encoding. I always use an external encoder to convert, prefering TMPGenc Xpress. I know you can framserve from AP to an encoding application, but this won't help as the you'd still have to start each encode manually.
However, DV AVI does export/render a lot quicker than WMV. You could export the videos as one long AVI, then use the batch encode combined with cut edit in something like tmpgenc xpress to produce a whole series of encodes. If your videos are on seperate timelines or in seperate projects, it would probably be quicker to export each one to DV AVI, then use an external batch encoder than exporting each video as WMV from AP.