In my process of tranferring my DVD collection to a digital media server I discovered that the Apple TV software is smarter than I thought.
I have been ripping my DVD collection using Handbrake on my Mac and transferring them to a Windows box which is shared out via my internal only network to the Apple TV using iTunes. I use the built-in Apple TV profile to do this. The profile sets the frame rate option on the encoder to be “Same As Source”. It turns out that if your rip has a final fps (frames per second) that is greater than 30 then the resulting movie will not be available in the list of Shared Movies on the Apple TV.