Does this include the FTDI chip and USB connection or will it require an FTDI board?
You will need a way to program the Versalino, I recommend using the Versalino FTDI because it provides additional features such as drop in BT2S compatability, and selectable voltage levels at no additional cost. However any FTDI board that is designed to program another Arduino like the LilyPad for example will work.
I have also programmed them with another Arduino without difficulty as well.
If you check out the video guides they go over programming in detail, but be sure to let me know if we missed anything. http://www.youtube.com/user/virtuabotix?feature=guide