OK, got it, and I have some good news for you: I think I can include a custom kernel for the Neo X5 in the next Alpha 0.4 release, which is coming in about 8 days time.I feel your pain. I just spent the entire day trying to root my neo x5 and I eventually got it right using Motorobo and some bloody-minded determination.
So if you get a gap AndrewDB could you please check out the results of the dmesg https://gist.github.com/4216228 and let us know what we can do to help.
But please DO NOT try the generic kernel included in Pre-Alpha 0.3. The Neo X5 uses a different power controller and I can't say what could happen if you flash the wrong kernel. So, please, just wait for the specific kernel, I promise you'll have it.