Well, I have a Cyclom-YeP (with the expandable external port box), but
maybe I can give you a hand.  I've got it running under NetBSD 1.5 as
a console port server (so I go out, not dial in), but it sounds like
you aren't even getting to tip to a modem at this point.  I have 11
consoles hooked up to my 16 port card and they all seem to work ok.

As I remember there are problems using cyclom cards in 1.4.* (at least
where *<3)

Let's make sure things are basically sane.  Here's the setup for
talking to one of my cy ports hooked up to a UPS.  "tip cy0" works
ok.  I am ignoring modem signals (the local in the /etc/ttys).

$ uname -rsm
NetBSD 1.5 i386
$ dmesg|grep cy0
cy0 at pci0 dev 18 function 0: interrupting at irq 10
cy0: 16 ports
$ ls -l /dev/ttyCY000
crw-------  1 uucp  wheel  38, 0 Jan 30 14:40 /dev/ttyCY000
$ grep ttyCY000 /etc/ttys
ttyCY000        none                    unknown local
$ grep ttyCY000 /etc/remote
cy0|ups|matrix:dv=/dev/ttyCY000:br#2400:pa=none:dc:

Make sure to run ttyflags -a (or reboot) after adding lines to
/etc/ttys if that's missing.

--Brian;