Sorry, couple noob questions.... What Do I need..?

Here is a simple example in Python which should get you started.

It checks for a small distance reading, if it sees one it waits and then runs the vibe motor.
The code is setup for driving the GPIO pin connected to drive #1 on the PicoBorg.

#!/usr/bin/env python
# coding: latin-1

# Import the libraries we need
import UltraBorg
import time
import RPi.GPIO as GPIO
GPIO.setmode(GPIO.BCM)

# Start the UltraBorg
UB = UltraBorg.UltraBorg()      # Create a new UltraBorg object
UB.Init()                       # Set the board up (checks the board is connected)

# Set which GPIO pins the drive outputs are connected to
DRIVE_1 = 4
DRIVE_2 = 18
DRIVE_3 = 8
DRIVE_4 = 7

# Setup the output to the vibe motor
GPIO.setup(DRIVE_1, GPIO.OUT)
GPIO.output(DRIVE_1, GPIO.LOW)

# Loop over the sequence until the user presses CTRL+C
print 'Press CTRL+C to finish'
try:
    while True:
        # Read the ultrasonic value in mm
        distance = UB.GetDistance1()
        # See if we get a low distance reading (something walked past)
        if distance < 300:
            # We did, wait for a bit then trigger the motor
            print 'Motion sensed'
            time.sleep(7.5)
            print 'Running motor'
            GPIO.output(DRIVE_1, GPIO.GPIO.HIGH)
            time.sleep(4)
            print 'Motor off'
            GPIO.output(DRIVE_1, GPIO.LOW)
        # Wait between readings
        time.sleep(.1)
except KeyboardInterrupt:
    # User has pressed CTRL+C
    print 'Done'

Yes, with some changes to the script a PicoBorg Reverse will be able to power the vibe motor for you.

This should be the correct wiring diagram for what you need:

Connect the vibe motor as M1, you do not need to connect a second motor.
Ignore the switch and just leave the jumper attached to the board.
For the battery you will need at least 6V to get PicoBorg Reverse to work.

You should connect the 3-pin cables so that the PicoBorg Reverse is connected to the daisy-chain connector on the UltraBorg.
See this forum post for more detail: https://www.piborg.org/node/1833

Here is the same example adjusted to use PicoBorg Reverse:

#!/usr/bin/env python
# coding: latin-1

# Import the libraries we need
import UltraBorg
import PicoBorgRev
import time

# Power settings
voltageIn = 12.0                        # Total battery voltage to the PicoBorg Reverse
voltageOut = 5.0                        # Maximum motor voltage

# Setup the power limits
if voltageOut > voltageIn:
    maxPower = 1.0
else:
    maxPower = voltageOut / float(voltageIn)

# Start the UltraBorg
UB = UltraBorg.UltraBorg()      # Create a new UltraBorg object
UB.Init()                       # Set the board up (checks the board is connected)

# Setup the PicoBorg Reverse
PBR = PicoBorgRev.PicoBorgRev()     # Create a new PicoBorg Reverse object
PBR.Init()                          # Set the board up (checks the board is connected)
PBR.ResetEpo()                      # Reset the stop switch (EPO) state
                                    # if you do not have a switch across the two pin header then fit the jumper

# Start by ensuring the vibe motor is off
PBR.SetMotor1(0.0)

# Loop over the sequence until the user presses CTRL+C
print 'Press CTRL+C to finish'
try:
    while True:
        # Read the ultrasonic value in mm
        distance = UB.GetDistance1()
        # See if we get a low distance reading (something walked past)
        if distance < 300:
            # We did, wait for a bit then trigger the motor
            print 'Motion sensed'
            time.sleep(7.5)
            print 'Running motor'
            PBR.SetMotor1(maxPower)
            time.sleep(4)
            print 'Motor off'
            PBR.SetMotor1(0.0)
        # Wait between readings
        time.sleep(.1)
except KeyboardInterrupt:
    # User has pressed CTRL+C
    print 'Done'

You will want to change the voltageIn value to the battery voltage attached to the PicoBorg Reverse.

We currently have PicoBorg Reverses in production, they should be available within a week or two.