Create Date: Feb 16 2013  4:53PM
This is the output from show lldp neighbors and show lldp neighbors detailed in the period where two devices are detected.  I also captured the fdb entries for the port as I thought it might be the device detected on the tagged and untagged vlans.
There is only a single disconnect which is the timeout of the 1st LLDP device disappearing as far as the switch is concerned.  Looking at the wireshark capture the phone sends its 1st LLDP packet with the 'voice' network policy TLV that has no VLAN ID or QoS values, the 2nd one received about a second later is identical however the 'voice' policy is polulated with the details the switch has advertised to the phone, however the IP address is still 0.0.0.0 (Chassis Id:).  I think this is where it is falling down because this 2nd packet is sent another two times before the phone goes through DHCP and then sends a LLDP packet with its assigned IP address.  These LLDP packets are all about a second apart.
So my assumption is this:
    1st LLDP packet the switch detects a LLDP device and adds it to the list off LLDP devices on the port (it also triggers the UPM device-detect event)
    Switch then sends LLDP to phone with Voice policy TLV
    Phone sends another LLDP packet with the 'voice' policy TLV updated and the switch sees this as another LLDP device so triggers the UPM device-detect event again
    TTL is reached and the switch removes the 1st LLDP device causing the UPM device-undetect to trigger
* Slot-1 X250-24p.138 # sho fdb ports 1:1
Mac                     Vlan       Age  Flags         Port / Virtual Port List
------------------------------------------------------------------------------
00:1a:a2:89:3a:5a      voice(0200) 0000 d mi          1:1
Flags : d - Dynamic, s - Static, p - Permanent, n - NetLogin, m - MAC, i - IP,
        x - IPX, l - lockdown MAC, L - lockdown-timeout MAC, M- Mirror, B - Egre
ss Blackhole,
        b - Ingress Blackhole, v - MAC-Based VLAN, P - Private VLAN, T - VLAN tr
anslation,
        D - drop packet, h - Hardware Aging, o - IEEE 802.1ah Backbone MAC,
        S - Software Controlled Deletion, r - MSRP
Total: 2 Static: 0  Perm: 0  Dyn: 2  Dropped: 0  Locked: 0  Locked with Timeout:
 0
FDB Aging time: 300
* Slot-1 X250-24p.139 #
* Slot-1 X250-24p.139 # sho lldp neighbors
Port     Neighbor Chassis ID        Neighbor Port ID           TTL     Age
=============================================================================
1:1      (5.1)0.0.0.0               001AA2893A5A:P1            180     84
1:1      (5.1)10.100.101.10         001AA2893A5A:P1            180     17
=============================================================================
NOTE: The Chassis ID and/or Port ID might be truncated to fit the screen.
* Slot-1 X250-24p.156 # sho lldp neighbors detailed
-----------------------------------------------------------------------------
LLDP Port 1:1 detected 2 neighbors
  Neighbor: (5.1)0.0.0.0/001AA2893A5A:P1, age 121 seconds
    - Chassis ID type: Network address (5); Address type: IPv4 (1)
      Chassis ID     : 0.0.0.0
    - Port ID type: Locally assigned (7)
      Port ID     : "001AA2893A5A:P1"
    - Time To Live: 180 seconds
    - Port Description: "SW PORT"
    - System Name: "SEP001AA2893A5A"
    - System Description: "Cisco IP Phone 7970G,V1, SCCP70.9-3-1SR1-1S"
    - System Capabilities : "Bridge, Telephone"
      Enabled Capabilities: "Bridge, Telephone"
    - IEEE802.3 MAC/PHY Configuration/Status
      Auto-negotiation       : Supported, Enabled (0x03)
      Operational MAU Type   : 100BaseTXFD (16)
    - MED Capabilities: "MED Capabilities, Network Policy, Extended Power via MDI - PD, Inventory"
      MED Device Type : Endpoint Class III (3)
    - MED Network Policy
      Application Type  : Voice (1)
      Policy Flags      : Known Policy, Tagged (0x1)
      VLAN ID           : 200
      L2 Priority       : 5
      DSCP Value        : 46
    - MED Network Policy
      Application Type  : Voice Signaling (2)
      Policy Flags      : Known Policy, Tagged (0x1)
      VLAN ID           : 200
      L2 Priority       : 4
      DSCP Value        : 32
    - MED Extended Power-via-MDI
      Power Type    : PD Device (1)
      Power Source  : PSE (1)
      Power Priority: Unknown (0)
      Power Value   : 6.3 Watts
    - MED Hardware Revision: "1"
    - MED Firmware Revision: "7970_020706_cert.bin"
    - MED Software Revision: "SCCP70.9-3-1SR1-1S"
    - MED Serial Number: "FCH1051ABHC"
    - MED Manufacturer Name: "Cisco Systems, Inc."
    - MED Model Name: "CP-7970G"
    - MED Asset ID: ""
  Neighbor: (5.1)10.100.101.10/001AA2893A5A:P1, age 57 seconds
    - Chassis ID type: Network address (5); Address type: IPv4 (1)
      Chassis ID     : 10.100.101.10
    - Port ID type: Locally assigned (7)
      Port ID     : "001AA2893A5A:P1"
    - Time To Live: 180 seconds
    - Port Description: "SW PORT"
    - System Name: "SEP001AA2893A5A.support.local"
    - System Description: "Cisco IP Phone 7970G,V1, SCCP70.9-3-1SR1-1S"
    - System Capabilities : "Bridge, Telephone"
      Enabled Capabilities: "Bridge, Telephone"
    - Management Address Subtype: IPv4 (1)
      Management Address        : 10.100.101.10
      Interface Number Subtype  : Unknown (1)
      Interface Number          : 0
      Object ID String          : "null"
    - IEEE802.3 MAC/PHY Configuration/Status
      Auto-negotiation       : Supported, Enabled (0x03)
      Operational MAU Type   : 100BaseTXFD (16)
    - MED Capabilities: "MED Capabilities, Network Policy, Extended Power via MDI - PD, Inventory"
      MED Device Type : Endpoint Class III (3)
    - MED Network Policy
      Application Type  : Voice (1)
      Policy Flags      : Known Policy, Tagged (0x1)
      VLAN ID           : 200
      L2 Priority       : 5
      DSCP Value        : 46
    - MED Network Policy
      Application Type  : Voice Signaling (2)
      Policy Flags      : Known Policy, Tagged (0x1)
      VLAN ID           : 200
      L2 Priority       : 4
      DSCP Value        : 32
    - MED Extended Power-via-MDI
      Power Type    : PD Device (1)
      Power Source  : PSE (1)
      Power Priority: Unknown (0)
      Power Value   : 6.3 Watts
    - MED Hardware Revision: "1"
    - MED Firmware Revision: "7970_020706_cert.bin"
    - MED Software Revision: "SCCP70.9-3-1SR1-1S"
    - MED Serial Number: "FCH1051ABHC"
    - MED Manufacturer Name: "Cisco Systems, Inc."
    - MED Model Name: "CP-7970G"
    - MED Asset ID: ""
* Slot-1 X250-24p.156 #
  (from Andrew_Butterworth)