Ok, it may well have been the dongle, but there are still issues, so I'm still swapping this board for a USB version.
-I tried the blue cube on the keyboard part of the ultranav, with the mac. Worked perfectly! ("I believe in the blue cube". It has yet to fail me).
-But then I tried it on the mouse part, and it didnt work. (I dont consider this really a failure of the blue cube, because its intended for keyboards and not mice (as clickykeyboard site specifically states, and there's an engraving of a keyboard on the cube itself, to drive that point home). But this means I dont know how to attach a ps/2 mouse to the mac.
-There ARE some products out there that CLAIM to do this -- attach ps/2 keyb and mouse to a mac via usb. For example:
http://www.usbgear.com/USB_TO_PS2_CONVERTER/But its $20. Its actually cheaper for me to swap this board for a usb version of itself. (Plus the unknown trial and error factor of which dongle will eventually work)
So I'm just going to swap the ultranav for usb version. Much simpler as a solution, and cheaper too.
[p.s., for posterity, this thread was helpful:
http://discussions.apple.com/thread.jspa?messageID=9357915#9357915]