I tried the same as you... and also had the same result, with the display turning black partway through the install - and I have 1mb VRAM in mine.
Part of the reason for 605s being unsupported IS the LC040 - but you and I have both put the full FPU versions in (and the 605 I tried it on has also run Linux and NetBSD fine... so it's definitely a working FPU :)
According to Apple, the 605 is most closely related to a Quadra 650, which DOES work fine with A/UX here. One of the differences is in the graphics and RAM handling chip... in a 650 it's DJMEMC: Dale & Jay's Most Excellent Memory Controller (good old apple for naming hey!). In a 605 it's a MEMC jr.
Since A/UX only works on such a small amount of hardware, and never needed to support the 605 (from apples POV, with the lack of FPU in 605s it was impossible to run anyhows) making A/UX support the MEMC jr would have been pointless.
That's my guess in detail anyway :). There may be other pieces of hardware that A/UX doesn't support in a 605 that add to the problem.
dana