We suspect that your transceiver is transmitting with an offset greater than 500Hz. Try offsetting the openSPOT4's modem RX and TX frequencies with larger than 500Hz values.
Example: keep your transceiver at 433.900MHz the whole time
Try an echo test with the following RX/TX frequencies in the openSPOT4: 433899400, 433899300, 433899200, 433899100, 433899000. Also try the other way: 433900600, 433900700, 433900800, 433900900