+5V on RX and TX is nothing to worry about. A positive voltage is the normal idle state of the serial lines. Communication is then started by pulling the serial line low, the so called start bit.
Have you checked that the arduion is correctly programmed, ie that it does the startup blink sequence and can cycle through the modes if a button is attached?
If that is working, something must be wrong on the side MIDI receiving side. Basically recheck everything there. Common errors: the resistor is the wrong value, for example if you misread the exponent stripe so you have a 2,2k or 22k resistor. The protection diode (1n4148) is reversed, which would kill the signal. You may have reversed the two pins coming off the MIDI wire. Or, something may be wrong on the other side of the optocoupler. Check that you didn't confuse the RX and TX lines on the microcontroller board.