I take it this has not been released yet? I wonder what the patching of Lv1 and Lv2 does. Considering kakarotoks stance on piracy I kinda doubt that we will get peek/poke which means running backups is out of the question. So how useful this really is going to be is a big question.
Hm, I dunno if this analogy is proper, but, if you've ever used nLite for windows and removed services and programs you didn't want, in a way this is kind of like that. Basically you are making a custom firmware tailored to your needs choosing the options that you want. Then it spits out a custom firmware with those options that you can flash your ps3 with. Basically. I'm sure other people have a much easier way to explain it.