FTDI Breakout Board & Arduino Pro Mini 3.3 Trouble

I just got my FTDI Breakout 3.3 this week, and it doesn't seem to be recognized by my mac, nor power the pro mini.

I have the FTDI Drivers installed, I have successfully programmed a Duemilanove and Seeeduino on this same computer.

I'm using a Macbook Pro.

Plugging in a mini-usb to just the FTDI board alone results in flickering Tx Rx lights on the FTDI board.

Powering the Arduino Pro Mini with a battery yields the blinking pin 13 LED. Connecting the FTDI board to the Pro Mini stops the Tx Rx lights from flashing on the FTDI board, but the pin 13 LED does not flash on the pro mini.

At no time does a tty.usbserial-XXXXXX appear as does when I connect either the Seeeduino or Duemilanove.

Am I confused about the operation of the FTDI breakout board when it is not connected to anything, should it show up as a serial port still?

I am connecting pins from BLK <-> BLK and GRN <-> GRN.

I'm stumped.

The FTDI breakout should show up as serial port even with no Arduino connected to it. Maybe it's broken? (I don't think TX and RX should blink when nothing is connected.)