Because no particular error was found on your code.
I can see data on RXD0OUT pin, clock on TXD0 pin with this code on my FX2.
This code is almost same as yours.

Does the RXD0OUT is connected to other device?
When RXD0OUT pin is free, can you see the signal?

Tsuneo

void TD_Init(void)              // Called once at startup
{
    ...
                          // UART0 setup
    PORTECFG  =  0x08;    // enable RXD0OUT
    SCON0     =  0x13;    // mode 0, receive enabled, baud: CLKOUT/12, TI = RI = 1
}

void TD_Poll(void)              // Called repeatedly while the device is idle
{
   int i;

    if ( TI ){            // UART0 test
        TI = 0;
        SBUF0 = 0x55;
    }
    ...
}