It is a full on JTAG/TRACE probe (Greenhills). Trying to use the probe for TRACE debugging (not necessarily programming of the FPGA) using the FMC to capture the TRACE output. The FMC105 is a very passive card which routes FMC_TCK (D29), FMC_TDI (D30), FMC_TDO (D31), and FMC_TMS (D33) to a pin header (J5).
I have confirmed with a scope that the FMC_TDO line is a constant high (except when bridged to FMC_TDI obviously), which matches what the probe detects.
If I jumper the probe JTAG to the onboard JTAG connector it detects at very low speeds, but the length is excessive.