Hey, I found something out.
I made a tutorial which describes how to make a custom Action Replay Max disc.
What you need:
-A way to play back-ups
-A blank cd-r
-Action Replay Max (you need to backup this)
-Nero Burning rom
-ELF file of your choice.
1) Firstly, back-up your Action Replay Max or get an iso from a torrent site.
2) Open that iso and extract all content to a folder or copy the files from the cd.
3) Decide what feature you want to scrap from AR Max. I chose to scrap the Instant messenger, MAXIM.ELF, which we will use for this tutorial.
4) Now we are going to replace the MAXIM.ELF with your desired elf file. Get an elf file and rename it to MAXIM.ELF and replace it with the AR one in the IMRES folder.
7) Change the following things;
Data mode: Mode 2 / XA
File system: ISO 9660 + Joliet
File name length (ISO): Max. of 31 chars (Level 2)
And keep Character Set the same.
8) Add all the files of the AR Max directory.
9) Burn at speed 16x and select for Write-method: Disc-at-once.
10) When done, boot your backup in your PS2 (With Swap-Magic, Modchip or other method) and you will see te AR Max screen.
11) Select INSTANT MESSENGER and press X. The should be a pink border (for my method) but if not, just wait a few secs and your favourite elf will pop up.