Hey all I just wanted to post this for Im not sure with it being so new that there was any spot to report bugs but I did find one that can has an easy fix. And maybe can be fixed fully in the next version. And I just wanted to post it for anyone else that has the same problem.
I found out when playing homebrew from the GAME150 folder after exiting the game and then trying to go back to the MS to load a different homebrew the FW locks up and the MS light is complete solid and then the PSP shuts down. Even if the MS is taken out and after a restart it sometimes won't load the MS.
For those that use the .ISO or .CSO for pirated games should not be affected by this bug. To fix the bug you will still need to create a new folder on MS0:/ called "ISO" apparently the FW looks for this folder as well and sometimes will lock up if the folder is not found so simply adding the folder will fix this problem.
*Note .ISO or .CSO's are not required to be in the ISO folder for it to fix the bug. (Thanks J-Prince for pointing out the confusion.)