I should have been clearer about what I meant - sorry about that! I meant using an oscilloscope to see the actual data on the lines rather than a probe or something within LabVIEW. I would expect that you should be able to see the bits on the line as the Arduino is transmitting data to the sbRIO.
NapDynamite Did you managed to solve your problem? I am using a sbRIO as well where I am implementing the same RS-232 FPGA example on this thread. Howerver, I cannot manage to get the signals out (using a FTDI TTL RS-232). Could you give me some hint or sample code to solve this problem?