I updated the wiki page to be more explicit about the steps required, see:
ILiad FBReader. However, this is pretty much what you did already.
My memory (from two weeks ago) is poor, but I think the following is what I did: a) copy the unziped directory to the base directory of the CF card, b) reboot after selecting the installer. You should then have FBReader in directory Programs and another directory _local for files internal to FBReader.