Thanks Sparkymarka,
Your description was spot on. As soon as I set Wintex to "manual", the modem did not request call back from the panel but connected on 2nd attempt (I have call defeat enabled) - it worked a treat.
The first line of the manual is very clear ... checked = automatic...
I'd like to dial into my Texecom 48 panel without the system invoking the call back feature. i.e. call the panel using Wintex -get immediate answer then start uploading and downloading.
So far the panel answers ok and data exchanages initiates then the Texecom modem then hangs up and waits...