Oops, my bad.
Turns out it was just mixer settings, feeding back through the soundcard.  Sorry
for the noise.
Message: 14
Date: Wed, 03 Dec 2003 17:43:16 -0500
From: Matt Lawson <matt@1control.com>
To: asterisk-users@lists.digium.com
Subject: [Asterisk-Users] Echo cancel in MeetMe?
Reply-To: asterisk-users@lists.digium.com
I'm trying to put multiple Linphones and Snom 200's into a Meetme room. 
 With two devices, echo is quite noticeable.  With 3 or more it 
degenerates into white noise.  Which part of the software is responsible 
for echo cancellation in a MeetMe room?  Is it a setting on the phones 
themselves, or within Asterisk?  And is this related to echo 
cancellation on the POTS lines?