Mike,
No, the FTDI USB chip does not need to be programmed. The ICSP 6-pin connection you see there allows you access to the ICSP programming on the main Atmel microcontroller on the processor board, however most people will likely just use the Arduino bootloader to program their TinyDuino's. We will ship all of the TinyDuino's with the Arduino bootloader preprogrammed.
Thanks,
Ken