I updated the PDS repository with information on how to configure the FT230X EEPROM and the Propeller Tool IDE.
Template for FT230X EEPROM
You will need to download FT-Prog from FTDI. The FT230X needs to be flashed with this template for the Propeller Development Stick to function correctly.
Also the Propeller Tool needs a tweak to its options to make it use the RTS signal to reset the Propeller instead of the DTR signal (which the FT230X does not have). Do this by opening Propeller Tool and clicking Edit. At the bottom there is “Preferences”. Under the tab “Operation” there will be Propeller Reset Signal. Change it from “DTR” to “DTR & RTS”. Press accept to save the settings. Propeller GCC using SimpleIDE also allows you to change the reset signal in the general tab of properties.