Exactly! There are only two settings, and 2x isn't one of them. At first, I thought i was going crazy because the manufacturer's site says 2048 PPR, but I'm getting 4096, and there's no way to get double. But then I hooked up the hardware to my motion control system and ran the encoder test there as a sanity check, and it came up with 8192. So the mfg meant 2048 lines, not pulses. But yeah, I'm getting 4096 instead of 8192, so I figure that I've got a mistake in my code somewhere, but not FTM settings related.
Though it's interesting because I could have sworn that the pic33F I used recently supported 1x, 2x, and 4x quadrature decoding in it QEI module.
Thanks for your input!