Here's the latest version of CoD3r-D's enhancced Recovery Menu for the PSP, an app based on Ceikor's open source recovery menu project that was released sometime ago.

Changelog

•Works on 5.50 GEN-X,5.02 GEN-A & 5.00 M33-X
•Now works on Ultimate VSH Menu
•Easy Installer
•Add Swap button O/X /NOT FINISH YET)
•Fixed some bugs
•CoD3r-D's Recovery Menu Changes to Recovery Menu Beta 2.0

NOTE: You're supposed to install this to flash1, despite saying to install on a MS.

Download
Source