Look, it got updated to version 0.2:
Changes in Version 0.2
1. Support for front SD slot.
2. Gamecube disc should work normally.
It only boots the homebrew if it finds it, and now it also can read from the front sd slot.
This means it could be possible to compile a version of sdboot that will read gcm isos from the front sd slot!
I think we will need to change dev1:\\GCGAMES to fat:\\GCGAMES.
edit: well it might not be possible yet still, the loading the of the executable into memory from the front sd slot is done in wii mode, prior to launching MIOS.