if anyone else is using the Cingular Flip IV (ATT/Cricket), W2D works to get debug mode turned on, but does not look like root access (OmniBB or universal root) wants to work yet.
Regarding hotspot/tethering, ATT disables this by default, but if you get debugging going, connect with WebIDE and go to device settings and check the box for "tethering.support" to checked, which will then enable the Hotspot menu choice in Network & Settings