Yup, it all works well here too. 1.5. 64MB Cybook from October 2007.
The readme said after update the Cybook will be turned off, but it wasn't - went straight to reading library, and then to library view.
I noticed the Back button can be used to go one folder higher - useful.
There is a Slide Show option, was it there before? Probably, I didn't walk the menus much lately...
The Delete option works.
Now it does what it was supposed to do, and I can't think of anything more I'd need

I'll have to start preparing the library
Let's hope it won't start crashing horribly. If it won't, I'll start recommending it