About 1.5 - 2 years ago, there was software similar to the Swap Magic Discs, CD/DVD Loader, and CogSwapLoader that was being developed... but it never made it past the BETA stage nor to production unfortunately. Who remembers reading about it here?
Attached below are a few pictures of it for those interested.
If you can boot CogSwapLoader then it should work using the same method to boot it. Give it a try and report back... I only have a v12 PS2 available at the moment, and it works fine on that using my Swap Magic v3.6 disc set. Good luck!