Just flashed the latest Raspbian to the compute module using the documented steps. No error messages during the flash process, switched USB SLAVE BOOT ENABLE to DIS, and the CM boots to the expected raspi-config screen.
However, a USB keyboard plugged into the USB Host port does not allow input to the raspi-config screen. Plugging in a USB mouse also shows the port is not active. The same keyboard and mouse were used successfully on the Model B Pi used to flash the CM.
Does the USB Host port require connection to a powered hub to power any peripheral devices?
On an unrelated note: any chance of getting an extra camera module adapter board? Farnell keep stepping back their lead times, and RS don't even have it listed.