allow me to summarize:
cocolino.driver - used to translate my ps2 mouse signals to signals the Amiga can 'pick up' using certain software
newmouse - useless with cocolino, since it only supports serial.device
freewheel - used to assign actions to middle mousebutton clicks and scrollwheel, compatible with cocolino.device
* using freewheel AND newmouse makes no sense *
correct? then I'm afraid my mouse is not entirely compatible with the cocolino driver, or freewheel. I'm now running freewheel, its no longer acting up: the middle mousebutton works fine, to cycle screens for example, but the scrollwheel still doesnt work.