I don't have experience using VSI Fax. However, it seems that disabling 2.0 support is probably the reason inbound faxes are not working, if the inbound fax requires 2.0 support.
Which OS and version are you using?
Which Digi driver version in installed?
Which Digi modem firmware is installed?
(The response to an AT i3 issued to the modem will give you the firmware version.)