Don't know if this is any help, but I had problems with my A1200 with a Blizzard 1240 when I had the 68040.library in libs:. Removed the library and everything worked fine. Turned out to be a bad accelerator. Got a replacement and all is now working with the library in place.
Have you tried without 68040.library? And do you know for sure that the accelerator is good?