Iris F14A Tomcat wing folding problems.

Switchable Automatic and Manual Sweep System
When loading the F-14 for the first time, the wingsweep system defaults to manual
mode. In manual mode, the Wingsweep can be controlled by the Wingsweep
control handle in the virtual cockpit, just be sure to raise the glass protective
cover first!
Unlike all other swing wing aircraft in Flight Simulator, the Tomcat features an
independent wingsweep/flap system. As such, wingsweep is now controlled by the
Engine 1 Prop Pitch axis and can be set up to a limited degree within your FS
controls assignments settings.
TO switch into automatic wingsweep control, you can either use the keyboard
shortcut of Shift+E then 3, or alternately clicking the Autosweep switch just left of
the throttle console.
In automatic sweep, the wingsweep is dictated by the aircraft’s speed and coupled
to this system is the maneuvering slats which also work automatically.
As a plus to the wingsweep system, we have also modelled the Direct Lift Control
(DLC) on the upper wing surfaces. The DLC system can be toggled using the
Concord Visor control which must be assigned in your flightsim control settings
prior to being able to use it. The DLC system will ONLY work when the aircraft has
its flaps fully extended and the landing gear down, and when activated with
provide a slight loss of lift to aid in approaches.
Oversweep Control
The Oversweep system in the F-14 provides pilots the ability to further retract the
wings to a 75 degree angle to allow for extra space saving when on board carriers.
As the oversweep control uses the Wing Fold command which is commonly assigned
to Shift+F or by using the oversweep switch on the left quarterpanel. It is essential
that it is disengaged prior to flight operations or the aircraft will simply not take
off.

You may have a more recent version of the aircraft in which case the procedure might differ slightly. Some changes were made due to the FSX/SP/Acceleration mess. If you google for a while, you'll find that you are not the only one with this problem. Your best bet might be to visit the Iris support forums and pester them until you find the solution for your version of the a/c.