An issue has been reported with using IBM on GE2 (SFP port) with HWID 1 ApexPlus. It appears that IBM doesn't function when going in over the SFP and will only work for traffic going in GE1 with smart mode enabled.
At this time, the workaround is to disable smart mode on both sides, save and reboot. This will allow the IBM to work on either port since the port mapping is disabled with smart mode off.
This issue does not impact HWID 2 ApexPlus units which have been shipping since late 2012.