(Max Louarn et al) have updated to Memor 32 Firmware v1.1 today for the PS2. The new v1.1 build now adds Dev1 and Dev 3 mode which allows for the launching of up to four different applications from the memory card/USB hdd and memory stick.
Download: Memor 32 Firmware Update v1.1
To quote: We have added the first important feature to the Memento Firmware! Dev1 and DEV 3 full implementation.
It is now possible to launch up to four different .ELF applications from DEV1 (Memor32 memory card) and four different .ELF applications from DEV3 (USB Flash memory stick).
DEV2 (HDD boot of .ELF Files) will be implemented with next Firmware update, toghether with the HDD Support.