0x80 is just a null byte with odd parity. What she apparently missed is that this is bog-standard Bell 202 AFSK (1200 baud) with 7 data bits and odd parity, and the data is ASCII. By throwing away the top nybble, she was throwing away the parity bit and the top 3 bits of the ASCII encoding of decimal digits. The fact that it was a parity bit should've been pretty obvious, since the top nybble flips between 0x3x and 0xbx in the pattern that you'd expect for a parity bit.
You can decode it with off the shelf software, throw away the top bit, and get back mostly ASCII:
$
### CARRIER 1200 @ 1200.0 Hz ###
282 0002.3
#L N390374 W09432938YJ
#AL #NA 282 0002.3
#L N390374 W09432938YJ
#AL #NA 283 0002.3
#L N390372 W09432928YJ
#AL #NA 283 0002.3
#L N390370 W09432918YJ
#AL #NA 283 0002.3
#L N390370 W09432918YJ
#AL #NA 283 0002.3
[...]
I'm actually surprised that she missed / didn't mention this, considering her experience with signals analysis and demodulation. This is pretty much as basic as telemetry data modulation gets! Then again, as a reverse engineer myself, sometimes we get caught up doing deep analysis of something that later turns out to be totally trivial
"Luke, I'm yer father, eh. Come over to the dark side, you hoser." -- Dave Thomas, "Strange Brew"