To get the ibike's trainer mode going I needed to add these rear-wheel and crank sensors. Makes sense. I chose a power output map that looked close to my Elite trainer and let it rip. Guess what - it works!
The ibike needs a 'trainer mode key' download, too, but that's pretty simple. The ibike software accepts the key on your PC and the ibike head unit is unlocked via USB connection. Bingo, new feature set.