Generic Dell USB mouse: detected fine, lights up, although I'm an idiot and can't figure out where in Poseidon I need to select the option to use a USB mouse instead of a standard mouse? So I couldn't actually use it. No big deal, I already have a modern PS/2 optical mouse with scrollwheel connected via my Cocolino, but if someone could point me in the right direction for the setting that would be helpful. Surprisingly I couldn't find much on Google or the Help manual for Poseidon.
You shouldn't need any configuration, mouse should just start working when plugged in. You should be able to use both USB and standard mouse simultaneously and there isn't any need to disable either of them. In fact, if you plug several USB mice they all should work simultaneously too

At least that's how it works with my A1200/SpiderII and MorphOS machines.
If you go to Poseidon/Trident preferences and look the devices list, can you see mouse as HID class? If you double click it, does it say it's mouse interface?