if I got it right, we still don't have a terminal app yet, do we?
Until some more capable person than me ports one (praise to those of you you are working on it), I suggest this workaround:
on your SD card:
1. get the latest version of leafpad
2. make a foo.desktop file in System/Desktop, with the content
3. make a file Programs/script1.sh with the content
/media/mmcblk0p1/System/Desktop/script1.sh > /media/mmcblk0p1/System/Desktop/output1.txt
4. make a file System/Desktop/script1.sh with the content
5. make all these files executable (don't know if needed)
How to use it:
i) open Leafpad, open the file script1.sh on your Desktop (the reason for putting it there is that you can easily access it from leafpad, without navigating folders)
write whatever commands you wish into the file, save it, close it
ii) tap the icon labelled Script1
iii) see the output by tapping output1.txt
Have fun, and dilligently use it to find out new things and make the device better.