I asked this question a while ago, and I've seen it appear twice since. So, to set answer that question, it works fine with my debian woody installation. First, with my particular laptop, I had to enable the serial port in the bios. I intend to eventually apply the usb back port, but I have too much unbacked up work on this computer at the moment to risk killing it. Next, I ran pppconfig and set it up to dial 3333 - the given number of 333 didn't work when I tried it once. Next, I ran pon and waited for the connection. At that point, everything seemed to work fine.
My only complaint is that the latency is really bad. As I'm typing this report I regularly get 10 to 20 characters ahead of the echo. Also, I have yet to see speeds even coming close to 128kbit. Hope this helps anyone that was considering using a ricochet with linux.