Ok, once again, not a Dev here, but.... Lets try to break this into a stage process. First we need to get INTO ps2 mode, THEN we need to find the second exploit. So lets focus on getting into ps2 mode:
It has been confirmed that the system uses ps2 mode to jump BACK to ps3 mode. the swap magic thing is a possibility because it stops everything and waits for a signal from the user to continue. BUT, going back to the ferrox loader that we saw a video of... she used the otherOS area to launch. So, what I was thinking is that if the two exploits are similar that maybe a modification to a linux kernel that redirects the system to somehow use ps2 mode. Others with more knowledge might be able to speculate better than I.
I've been a casual observer in the scene for a long time, one thing to note about PDX is that they do work in mysterious ways... thus, I wouldn't doubt if some little blue birdies visit the thread, drop some info and disappear never to be seen or heard from again. BTW, Thanks for initial brainstorming BK.