So I had previously rooted my kobo touch specifically to serve this function after reading about the kindle hack. My old way of doing this was with some scripts on my media server that would generate a correctly formatted .raw file and push it to my kobo touch's screen. Your way seems way more streamlined so I decided to give it a try.
I manually pushed the ".apps" and ".python" to their respective places in "/mnt/onboard/" and ran the script you provided for installing python. This all worked great until I tried running the weather script, it gets through asking for my lat and long and grabbing weather data.. then it dies at:
[root@(none) koboWeather]# python weather.py
Kobo Wifi weather forecast started.
Getting weather information . . .
Drawing to the screen . . .
init mouse failed.
Traceback (most recent call last):
File "weather.py", line 346, in <module>
File "weather.py", line 93, in get_weather_data
display(days, highs, lows, conditions, img_links)
File "weather.py", line 111, in display
tiny_font = pygame.font.Font("Cabin-Regular.ttf", 18)
RuntimeError: Couldn't load font file
So I poked around a bit more and realized I don't have a "mouse" binary. The Kobo touch uses a binary called "pickle" to write to the screen. I guess I'll have to poke at it a while and see where I get.