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Well, after upgrading to Acrobat 5.1 because it kept barfing when trying to load some DocBox plug in, I looked through the documentation for PMT to no avail. Then I checked out the readme, and, sure enough, there was a little blurb under the version 7.4 errata for PMT that states:
Share and Transfer to DB menu commands are now supported. These commands permit you to share accounts between two databases. The Transfer to DB command permits this between two databases on the same handheld, while the Share command uses IR beaming to permit sharing of accounts between databases on two different handhelds (note that the beaming feature sometimes fails on older versions of the Palm OS; it is fully supported for 3.5 and above).

So I checked Palm for any OS upgrades, because I remember being able to upgrade my Workpad c3 (basically a Palm V) to v 3.5.3 for free. No dice. You can only upgrade the Palm IIIx to version 4.1 of Palm OS even though the main page for older Palm OS upgrades makes me think otherwise.