Hi Larry,
Yes, this setup would cause an echo because the V-Drums will play the audio received from jammr via the mix in through the headphone output that jammr is recording.
Have you tried adjusting the Latency setting in jammr's sound settings? When set too low you will start to hear audio glitches (crackling noises and other artifacts). There is a trade-off between achieving good latency and no audio glitches.
Usually 5 milliseconds latency is the lower limit, but it depends on your hardware. I record the output of electronic drums through a USB audio interface with “Play back my audio” enabled in jammr and the latency is acceptable. If you have a chance to try a USB audio interface then that might solve the latency problem with your computer's soundcard.
One workaround might be using audio cable splitters. Instead of connecting the cable to the Mix In on the V-Drums you join the V-Drums headphone output together with the computer audio output:
1. V-Drums output splits into two cables: 1 for the computer input and 1 for you to monitor.
2. Another audio splitter joins the monitor signal together with the computer output.
Horrible but maybe it will work!