Loaded it up on my o3ds as well. Same results as n3ds as far as starting, hangs on "Debug console started" on 10.7 Emunand/9.2 Sysnand (using ARN ntr firm) while launching just fine on 9.2 Sysnand (9.0 firm) with AuReiNand. Sounds work well on o3ds and it runs at 25-26fps.
Test suite (~6mb) loads in about 30s while something like Yume NIkki (~70mb) takes 6-8min, and as long as I give it time it always seems to load. Even left Yume 2kki (~800mb) loading up the other night and it had successfully reached the menu by the time I woke up.
Using gridlauncher on n3ds with youtube to run easyrpg on emunand and link between worlds cartridge on sysnand, o3ds is using link between worlds cart to run easyrpg on both emunand and sysnand. It doesn't seem to matter how many tries I give it on n3ds or o3ds, always launches in sysnand when booted with 9.0 firm and hangs otherwise.