That's just ... i don't know what to say about it, it makes absolutely no sense to me.
New version is up today, won't help you but it's a lot nicer for those that can use it.
Just out of curiosity I have tried your new version to install KonstaT's CM10 loopROM in SSRLS7 nandROM.
After I entered the name and the size of the system image I wanted to create size, there were multiple errors:
/sdcard/multiboot/system-loop-files /cm10sys: cannot open for write: No such file or directory
losetup: /devloop0: No such file or directory
mke2fs: not found
The same happened for the data image.
The multiboot folder was not created on the sdcard.
Edited by Walwon, 25 October 2012 - 11:02 AM.