I thought I was in the same boat. Latest driver just doesn't allow the cable to talk. I found some drivers that do work through an eBay auction for knockoff chips. That was the missing piece for me.
http://www.waveshare.com/wiki/FT232_Software
My cheap cable doesn't need any diodes, resistors, anything. Just wired to ground and the Pin M for data. (I have a 1994 Chevy Corsica, so my ECU is 8192)
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