After several days after installing the new update, I had trouble in OS too. The message "OS Init ..." appears and gets stuck on this screen. So I have to delete and copy again EDFC folder to return to work.
But if I play several games at once and some with save function, the problem of "OS Init ..." back!
Well, now I decided to go back. to V.13.
I believe Krikzz is looking for some solution to this.