I expect compatability is going to depend entirely on your flash cartridge. As the readme notes, older (slower) carts, are going to crash, since the rom won't be able to run at the speed the NDS is expecting it to.
Using the EFA 512mb + FlashMe, my current results are:
0001 - Electroplankton (J)(trashman) = Working
0036 - Daigasso! Band Brother (J)(gbxr) = Crashes on start-up
0043_-_Spiderman_2 (U)(BT) = Working
0051_-_Retro_Atari_Classics (E)(Wario) = Working
0074_-_Ganbare_Goemon_Toukai_Douchuu_(J)_(trashman) = Crashes after "Konami" boot sound
0079 - Bomberman (E)(Trashman)(b82c1a95) = Working
0085 - Jump Super Stars (J) = Menus seem to work, but game hangs when main game started
0090 - Nintendogs - Lab & Friends (USA)(Lube)(616f5d3f) = Working