No, you cannot. USB demands that one device be a HOST, and all Win CE machines are DEVICES, not HOSTS, so unless you use a CF USB HOST card, with appropriate drivers, you can't connect them together directly.
The other USB device I'm using has a USB host port built into it (just like a laptop). I would have thought that connecting the USB slave-Axim to the USB-host CE device would have been okay.
Ok, that could work if the other has drivers for the Axim, which is what your message is asking. I took your original post to mean that the X50 was asking for a driver, but now I think you must mean that the wince 5.0 device is asking for a driver, which makes sense if it is actually an USB Host. The only drivers for Axim come on the CDROM, and are for desktop windows, not WinCE devices, AFAIK. You may have to write your own driver.
This would be interesting. Using CardExport 2 on the X50v, it would present itself as a mass storage device, so theoretically, the WinCE 5 device could detect it as such. Does the WinCe 5 device detect other mass storage devices ??
I would be interested in finding out from the original poster whether this works.