Well, here is what I did:
Opened the MXB. Created a new drawing on a new table, named it Lines.
Opened command window, copy / pasted the query from above, adjusted the names, and ran it:
FUNCTION makeline(t TABLE) GEOM AS (
DELETE FROM [Lines];
INSERT INTO [Lines] ([Geom])
SELECT makeline((COLLECT [Geom] ORDER BY [TrackPointID])) FROM [TrackData]
GROUP BY [LineID];
This created 2 lines.
Opened the drawing. Noticed that I forgot to set the coordinate system, pressed Ctrl-1 to go to the Component pane. Clicked the button next to the coordinate system readout, selected Repair Initial Coordinate System - Latitude / Longitude.
Dropped the original drawing into the window with the lines. They lined up.