If a call is transferred to an extension with VM will VM pick up if the call goes unanswered? Or will it just bounce back to who ever transferred it.

If that station and voice mail are programmed correctly, then the mailbox assigned to that extension will pick up the unanswered call.

in capabilities set forward no answer to the vm dn
if you want vm on that xtension

If x223 transfers to x225 it should go to x225 VM (if you have everything prog correctly)

If x223 has Forward to x225 and a call comes in to x223, it will ring on x225 but go to x223 VM.