It is rooted.
Webtop HDMI hack installed
busybox installed and copied to /system/etc/webtop2sd/busybox
Permissions are all 777
Webtop2sd installed and completes installation with no error.
webtop2sd version: 2.0.1
Mount executable version: webtop2sd/2.0.0
Custom busybox installed: Y
webtop configurator version: 33
Currently mounted webtops: webtop, mmcblk0p2
Only booting into standard webtop.
Figured it out - it was actually working, but I did not have a tux icon. Adding the Bionic MBM.tar.bz2 patch allowed me to use ctrl-alt-T to get a terminal, and I was off!