This is weird: I'm on fedora 12 with fvwm-2.5.26-4.fc12.x86_64 and qt-4.6.2-1.fc12.x86_64. I try building the shapedclock qt example program. This sample is designed to be run with no window decorations, so it looks for mouse drag events and calls move() to move itself.
When running fvwm, I can only move vertically. It is like fvwm is utterly ignoring the X movement, and only paying attention to Y movement. If I set the window style to Unmanaged, I can move it OK, or if I run gnome and metacity, I can move OK, so it is clearly something weird fvwm is doing.