Well, the problem is that PhoCoAdapter needs a Bluetooth COM port to communicate with PhoCo. On WM 2003 SE a existing port (usually COM4 or COM5) can be used for that. On WM5 this port is occupied by a crappy modem.
That's the reason why PhoCoAdapter is trying to set up it's own COM port.
Unfortunately, the number of overall COM ports on Windows Mobile is limited to 10 ports (0-9). PhoCoAdapter tries at startup to aquire one of them but if they all are taken, there's no way for PhoCoAdapter to set one up.
I don't know what Moto had in mind with BTC1..5 but apperently they don't work as incoming ports.
What you may look after is a way to get rid of one of the predefined ports so that PhoCoAdapter is able to open its own port.
Anyone know if this is possible?