Hi Eric,
The nice feature of the 5421 and many of our other modular instruments devices is that they use the SMC core that provides for tight synchronization using TCLK. You should not need to use an external trigger source to use the TCLK functionality; an immediate software trigger is sufficient as shown in the NI-FGEN synchronization shipping example niFgen_Arb_Synchronize_Example_(TClk).vi (in LabVIEW, go to Help>>Find Examples then browse in Hardware Input and Output>>Modular Instruments>>NI-FGEN>>Synchronization).
The Baseband Developer's Kit uses the Modulation Toolkit to provide a lot of its functionality. If you have this toolkit installed, there is another shipping example that demonstrates how to generate the I and Q portions of a frequency-modulated signal. This example is MT niFgen IQ Signal Generation_TClk.vi (in the Example Finder, browse Toolkits and Modules>>Modulation>>NI-FGEN).
Regards,
Andrew W
National Instruments