First, It’s easier to use the ‘df’ command to list just the disks rather than every device in the system.
Second, what version of QNX are you running in your VM?
Third, I’ll assume that you have your CF card inserted in your USB adapter 
Fourth, what do you see if you enter the command ‘usb -vvv’. This is what I see in my VMWare box (no USB drives attached in my case)
USB 0 (UHCI) v1.10, v1.01 DDK, v1.01 HCD
Control, Interrupt, Bulk, Isoch, Low speed, Full speed
Device Address : 1
Upstream Host Controller : 0
Upstream Device Address : 0
Upstream Port : 0
Upstream Port Speed : Full
Vendor : 0x0e0f (VMware)
Product : 0x0003 (VMware Virtual USB Mouse)
Device Release : r1.02
USB Spec Release : v1.10
Serial Number : N/A
Class : 0x00 (Independant per interface)
Max PacketSize0 : 8
Languages : 0x0409 (English)
Current Frame : 86 (1024 bytes)
Configurations : 1
Configuration : 1 (VMware)
Attributes : 0xc0 (Self-powered)
Max Power : 0 mA
Interfaces : 2
Interface : 0 / 0 (VMware)
Class : 0x03 (HID)
Subclass : 0x00
Protocol : 0x00
Endpoints : Control + 1
Endpoint : 0
Attributes : Control
Max Packet Size: 8
Endpoint : 1
Attributes : Interrupt/IN
Max Packet Size: 8
Interval : 1 ms
Interface : 1 / 0 (VMware)
Class : 0x03 (HID)
Subclass : 0x00
Protocol : 0x00
Endpoints : Control + 1
Endpoint : 0
Attributes : Control
Max Packet Size: 8
Endpoint : 2
Attributes : Interrupt/IN
Max Packet Size: 8
Interval : 1 ms
Device Address : 2
Upstream Host Controller : 0
Upstream Device Address : 0
Upstream Port : 1
Upstream Port Speed : Full
Vendor : 0x0e0f
Product : 0x0002 (VMware Virtual USB Hub)
Device Release : r1.00
USB Spec Release : v1.10
Serial Number : N/A
Class : 0x09 (Hub)
Subclass : 0x00
Protocol : 0x00
Max PacketSize0 : 8
Languages : 0x0409 (English)
Current Frame : 194 (1024 bytes)
Hub Number Ports : 7
Hub Characteristics : 0x0009 (Individual power, Individual over-current)
Hub Power On->Good : 100 ms
Hub Power Requirements : 100 mA
Configurations : 1
Configuration : 1 (VMware Virtual USB Hub)
Attributes : 0xe0 (Self-powered, Remote-wakeup)
Max Power : 0 mA
Interfaces : 1
Interface : 0 / 0 (VMware Virtual USB Hub)
Class : 0x09 (Hub)
Subclass : 0x00
Protocol : 0x00
Endpoints : Control + 1
Endpoint : 0
Attributes : Control
Max Packet Size: 8
Endpoint : 1
Attributes : Interrupt/IN
Max Packet Size: 1
Interval : 255 ms
USB 1 (EHCI) v1.10, v1.01 DDK, v1.01 HCD
Control, Interrupt, Bulk, High speed
Do you recall the options you started io-usb with? You may want to manually specify all 3 USB types: ‘io-usb -duhci -dohci -dehci’ as I am not sure which one VMWare is emulating.
Just a guess but I suspect VMWare isn’t presenting the USB CF card to QNX. Is this card and USB adaptor already plugged in when you start your QNX VM? I ask only because when I plug in USB drives VMWare asks if I want to make them available to the guest OS. Until I do that they don’t show in QNX.
Tim