The Axim BT configuration could be more friendly, but it works once set up properly. Have a look at my
Bluetooth guide to familiarize yourself with the options.
Make sure your Axim is not controlling your ports for a GPS that isn't there. In Start-->Settings-->GPS, disable all the options (hardware none, software none, uncheck automanage). Sometimes it's good to just delete whatever you've configured in the Bluetooth manager and allow the Axim to redetect BT devices from scratch after recreating outgoing/incoming ports.