kay. it took me... 2 minutes to install this.
step 1: download this
its a special version of otheros.bld that has the Kboot GUI preinstalled
step 2: put this into X:\PS3\OTHEROS\ >>>IN HERE<<<
this can be done with a usb drive, SD card, anything that the ps3 can read... even cd.
step 3: plug that into your ps3 and in the xmb go to settings > system settings > Install OtherOS
step 4: wait for it to find your device and install and then boot to the otheros to check if it worked.
i reset my ps3 twice to make sure it worked and it did. when the otheros fires up you will be hit with a screen and there is going to be an icon of an HDD on the left. press down on your keyboard. the press right to get to the other sections of that HDD partitions. select the corrent one and press enter. video modes can also be set. i dont know if the video modes are saved.
I dont know about custom text but if u want custom icons u need to compile this yourself.
instructions on compiling can be found here at the authors site: http://ozlabs.org/~jk/projects/petitboot/
if you cant get through this how to you will be SOL in life.