I am still having issues. I completely wiped my Acekard clean and put on the brand new 1.5 AKAIO firmware and then downloaded the latest CHEAT.DAT file from here and put it in the Cheats folder.
Put my games in the folder and activated the ones I wanted. But they still are not activating in the game. I can see them in the list before the game is started and can choose the ones I want. But they are never enabled.
And I have also tried the "holding down X method." Nothing seems to be working. Any suggestions?
EDIT: I also have the latest loaders in there (9/25). A quick note though is that there are 2 folders for loaders in my _aio folder. One of them just says "loaders" and the other says "2kloaders" but is empty. Should it be there?