Looks like my problems trying to get Ymodem transfers to work in minicom might be related to a missing package, i.e. lrzsz.
Need to try it later tonight, but I'd assumed that minicom came with X/Y/Z modem transfer code. It seems like the lrzsz package is required by minicom to conduct the actual transfers :S
Fingers crossed that'll sort out all the issues with minicom, and I can get into a happy state dealing with the VCMX212 via Ubuntu :)
So, next step is to rebuild the VCMX212 with uMon and linux. To undo experiment work with linux shared libraries. Then onto tslib and QtE :D